AG Mortgage Investment Trust (NYSE:MITT) Raised to Buy at StockNews.com

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a report released on Friday.

A number of other equities analysts have also recently weighed in on the stock. JMP Securities increased their price objective on shares of 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. Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They set an “overweight” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Stock Performance

NYSE:MITT opened at $7.22 on Friday. The stock has a market capitalization of $212.80 million, a P/E ratio of 4.15 and a beta of 2.05. The company has a 50 day moving average price of $7.42 and a 200 day moving average price of $6.96. AG Mortgage Investment Trust has a fifty-two week low of $4.92 and a fifty-two week high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $99.82 million for the quarter, compared to analysts’ expectations of $17.00 million. AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. During the same period in the previous year, the business posted $0.08 EPS. Research analysts forecast that AG Mortgage Investment Trust will post 0.84 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 10.53%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter valued at $72,000. Algert Global LLC acquired a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter valued at $81,000. SG Americas Securities LLC acquired a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter valued at $93,000. Naviter Wealth LLC grew its position in shares of AG Mortgage Investment Trust by 30.9% in the 1st 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. Finally, Transcend Capital Advisors LLC grew its position in shares of AG Mortgage Investment Trust by 12.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 2,500 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

About AG Mortgage Investment Trust

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.