Algert Global LLC Buys New Shares in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Algert Global LLC purchased a new stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) during the second quarter, Holdings Channel reports. The firm purchased 12,193 shares of the real estate investment trust’s stock, valued at approximately $81,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC boosted its position in AG Mortgage Investment Trust by 12.6% during 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 during the period. Naviter Wealth LLC grew its position in AG Mortgage Investment Trust by 30.9% during the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 4,000 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in AG Mortgage Investment Trust in the 2nd quarter worth approximately $72,000. Napa Wealth Management bought a new stake in AG Mortgage Investment Trust in the fourth quarter valued at approximately $96,000. Finally, Marshall Wace LLP boosted its stake in shares of AG Mortgage Investment Trust by 32.0% during the second quarter. Marshall Wace LLP now owns 91,416 shares of the real estate investment trust’s stock valued at $607,000 after purchasing an additional 22,143 shares during the period. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Trading Up 0.7 %

Shares of MITT opened at $7.27 on Friday. AG Mortgage Investment Trust, Inc. has a 1-year low of $4.82 and a 1-year high of $7.95. The firm’s 50-day moving average price is $7.27 and its 200-day moving average price is $6.83. The firm has a market capitalization of $214.28 million, a price-to-earnings ratio of 4.18 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results 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 firm 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 quarter last year, the company posted $0.08 EPS. On average, research analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.84 EPS 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 paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.45%. The ex-dividend date is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is 43.68%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. 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 note on Friday, July 19th. Finally, Piper Sandler began coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They set 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 given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.00.

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.