AG Mortgage Investment Trust (NYSE:MITT) Downgraded to “Hold” Rating by StockNews.com

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

MITT has been the subject of a number of other reports. JMP Securities increased their price objective 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. Piper Sandler initiated coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

AG Mortgage Investment Trust Stock Performance

MITT opened at $7.13 on Friday. The company has a market cap of $210.29 million, a P/E ratio of 4.60 and a beta of 2.04. AG Mortgage Investment Trust has a one year low of $5.06 and a one year high of $7.95. The business’s 50-day simple moving average is $7.45 and its 200-day simple moving average is $7.00.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million during the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period last year, the company earned $0.08 earnings per share. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 10.66%. AG Mortgage Investment Trust’s dividend payout ratio is currently 49.03%.

Institutional Trading of AG Mortgage Investment Trust

Several hedge funds have recently modified their holdings of MITT. LSV Asset Management acquired a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter valued at approximately $1,110,000. Renaissance Technologies LLC lifted its holdings in shares of AG Mortgage Investment Trust by 34.6% in the 2nd quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after buying an additional 143,799 shares during the period. Wolverine Asset Management LLC increased its stake in AG Mortgage Investment Trust by 189.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 185,997 shares of the real estate investment trust’s stock valued at $1,397,000 after purchasing an additional 121,771 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in AG Mortgage Investment Trust in the 1st quarter valued at approximately $704,000. Finally, Bank of New York Mellon Corp increased its stake in AG Mortgage Investment Trust by 105.4% in the 2nd 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 in the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company 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.