AG Mortgage Investment Trust, Inc. Announces Quarterly Dividend of $0.48 (MITT)

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, September 12th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.475 per share by the real estate investment trust on Tuesday, October 31st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date of this dividend is Thursday, September 28th.

AG Mortgage Investment Trust has decreased its dividend by an average of 14.1% annually over the last three years. AG Mortgage Investment Trust has a dividend payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect AG Mortgage Investment Trust to earn $1.85 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 102.7%.

AG Mortgage Investment Trust (MITT) traded up 0.58% during trading on Tuesday, reaching $19.24. The company’s stock had a trading volume of 177,793 shares. The company’s 50-day moving average is $18.96 and its 200-day moving average is $18.48. AG Mortgage Investment Trust has a 12 month low of $14.61 and a 12 month high of $19.57. The stock has a market cap of $535.41 million, a PE ratio of 5.94 and a beta of 0.92.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The company had revenue of $31.22 million for the quarter, compared to the consensus estimate of $21.76 million. AG Mortgage Investment Trust had a return on equity of 11.97% and a net margin of 85.21%. AG Mortgage Investment Trust’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. Equities analysts expect that AG Mortgage Investment Trust will post $1.82 EPS for the current fiscal year.

MITT has been the topic of several research analyst reports. BidaskClub cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine raised AG Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of AG Mortgage Investment Trust in a report on Monday, May 15th. Finally, Zacks Investment Research cut AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.38.

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About AG Mortgage Investment Trust

Dividend History for AG Mortgage Investment Trust (NYSE:MITT)

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