AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.00 Consensus Target Price from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.00.

Several research firms have recently issued reports on MITT. JMP Securities raised their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. StockNews.com lowered AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Piper Sandler started coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target for the company.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock opened at $6.96 on Friday. The business has a 50 day moving average of $7.42 and a 200-day moving average of $7.02. The company has a market capitalization of $205.25 million, a P/E ratio of 4.49 and a beta of 2.04. AG Mortgage Investment Trust has a 1 year low of $5.09 and a 1 year high of $7.95.

AG Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 10.92%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 49.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MITT. The Manufacturers Life Insurance Company acquired a new stake in AG Mortgage Investment Trust during the second quarter worth approximately $72,000. Algert Global LLC bought a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter valued at $81,000. SG Americas Securities LLC bought a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter valued at $93,000. Curi RMB Capital LLC acquired a new position in shares of AG Mortgage Investment Trust during the 3rd quarter valued at $105,000. Finally, Naviter Wealth LLC boosted its stake in AG Mortgage Investment Trust by 26.3% during the second quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust’s stock worth $146,000 after acquiring an additional 4,450 shares in the last quarter. 27.32% of the stock is 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.