Rhumbline Advisers Increases Holdings in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Rhumbline Advisers boosted its holdings in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 5,557.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,770 shares of the real estate investment trust’s stock after buying an additional 39,067 shares during the period. Rhumbline Advisers owned approximately 0.13% of AG Mortgage Investment Trust worth $264,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Napa Wealth Management bought a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at about $96,000. Naviter Wealth LLC raised its stake in AG Mortgage Investment Trust by 30.9% during the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 4,000 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,500 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of AG Mortgage Investment Trust in the first quarter worth $704,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of AG Mortgage Investment Trust by 105.4% during the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after purchasing an additional 84,037 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MITT shares. JMP Securities raised their target price on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. StockNews.com lowered AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Finally, Piper Sandler began coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Stock Up 0.5 %

Shares of NYSE MITT opened at $7.79 on Friday. AG Mortgage Investment Trust, Inc. has a twelve month low of $4.82 and a twelve month high of $7.95. The business has a fifty day simple moving average of $7.31 and a two-hundred day simple moving average of $6.74. The firm has a market cap of $229.60 million, a PE ratio of 4.48 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The firm had revenue of $99.82 million for the quarter, compared to the consensus estimate of $17.00 million. During the same quarter last year, the firm earned $0.08 EPS. On average, research analysts expect that AG Mortgage Investment Trust, Inc. will post 0.82 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 9.76%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 43.68%.

AG Mortgage Investment Trust Profile

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.