AG Mortgage Investment Trust, Inc. (NYSE:MITT) Sees Large Growth in Short Interest

AG Mortgage Investment Trust, Inc. (NYSE:MITT) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 475,045 shares, an increase of 25.7% from the March 15th total of 377,944 shares. Based on an average daily volume of 311,395 shares, the short-interest ratio is currently 1.5 days. Currently, 1.5% of the shares of the company are short sold.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock traded up $0.18 during trading on Friday, reaching $8.00. The company’s stock had a trading volume of 259,626 shares, compared to its average volume of 221,165. The business’s 50-day moving average price is $7.87 and its 200-day moving average price is $8.03. The firm has a market cap of $253.76 million, a PE ratio of 9.09 and a beta of 1.69. AG Mortgage Investment Trust has a 52 week low of $6.03 and a 52 week high of $9.27. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.16 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.42%. Equities analysts forecast that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.0%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 109.09%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in AG Mortgage Investment Trust during the fourth quarter worth about $40,000. Strs Ohio acquired a new position in AG Mortgage Investment Trust during the first quarter worth about $39,000. BNP Paribas Financial Markets raised its stake in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 2,756 shares in the last quarter. CWM LLC raised its stake in AG Mortgage Investment Trust by 173.6% during the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,614 shares in the last quarter. Institutional investors own 27.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. Citizens Jmp upped their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a report on Thursday, January 22nd. Credit Suisse Group set a $9.25 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective (up from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Finally, JonesTrading boosted their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).