Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $8.00

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.00.

MITT has been the topic of a number of research reports. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, JMP Securities upped their target price on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th.

AG Mortgage Investment Trust Stock Performance

NYSE:MITT opened at $7.27 on Wednesday. The company has a market cap of $214.39 million, a price-to-earnings ratio of 4.69 and a beta of 2.05. The stock’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $6.83. AG Mortgage Investment Trust has a 52-week low of $4.82 and a 52-week high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $99.82 million for 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 EPS. On average, equities analysts predict that AG Mortgage Investment Trust will post 0.84 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.45%. The ex-dividend date is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 49.03%.

Institutional Trading of AG Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC lifted its stake 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 valued at $148,000 after buying an additional 2,500 shares in the last quarter. Naviter Wealth LLC lifted its position in 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 acquiring an additional 4,000 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in AG Mortgage Investment Trust in the 2nd quarter worth $72,000. Algert Global LLC bought a new position in AG Mortgage Investment Trust during the 2nd quarter worth about $81,000. Finally, SG Americas Securities LLC acquired a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.