AG Mortgage Investment Trust (NYSE:MITT) Shares Pass Above 200 Day Moving Average – Here’s Why

AG Mortgage Investment Trust, Inc. (NYSE:MITT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $7.78. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 181,891 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on MITT shares. JMP Securities restated a “market outperform” rating and set a $8.50 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Jones Trading increased their target price on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and an average target price of $8.30.

AG Mortgage Investment Trust Price Performance

The company has a fifty day moving average price of $7.16 and a 200 day moving average price of $7.13. The company has a market cap of $227.48 million, a PE ratio of 3.36 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The company had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $18.44 million. As a group, sell-side analysts predict that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 10.43%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 65.04%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 2,739 shares during the last quarter. Quarry LP grew its holdings in shares of AG Mortgage Investment Trust by 158.9% in the fourth quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 3,914 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of AG Mortgage Investment Trust by 43.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 2,231 shares during the last quarter. LPL Financial LLC purchased a new position in shares of AG Mortgage Investment Trust in the fourth quarter worth $70,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in AG Mortgage Investment Trust during the 4th quarter valued at $70,000. Institutional investors own 27.32% of the company’s stock.

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.