AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.24 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Wednesday, September 30th.
AG Mortgage Investment Trust has increased its dividend by an average of 0.6%annually over the last three years and has raised its dividend every year for the last 2 years. AG Mortgage Investment Trust has a payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect AG Mortgage Investment Trust to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 80.0%.
AG Mortgage Investment Trust Stock Down 1.5%
MITT stock opened at $6.41 on Wednesday. AG Mortgage Investment Trust has a fifty-two week low of $5.93 and a fifty-two week high of $9.27. The business’s 50 day moving average price is $6.99 and its two-hundred day moving average price is $7.50. The company has a debt-to-equity ratio of 22.56, a quick ratio of 10.33 and a current ratio of 10.33. The company has a market capitalization of $203.68 million, a price-to-earnings ratio of 8.66 and a beta of 1.64.
Institutional Trading of AG Mortgage Investment Trust
A number of hedge funds have recently made changes to their positions in MITT. Cetera Investment Advisers raised its holdings in AG Mortgage Investment Trust by 13.7% in the first quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 4,279 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of AG Mortgage Investment Trust by 31.5% during the second quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 6,444 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AG Mortgage Investment Trust by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock valued at $1,470,000 after buying an additional 7,770 shares during the last quarter. Bank of America Corp DE increased its position in shares of AG Mortgage Investment Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after acquiring an additional 7,968 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of AG Mortgage Investment Trust by 3.5% during the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after acquiring an additional 10,255 shares in the last quarter. 27.32% of the stock is owned by institutional investors.
AG Mortgage Investment Trust Company Profile
AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income from a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments tied to the U.S. housing and mortgage markets.
As a mortgage REIT, AG Mortgage Investment Trust generally finances its investments through borrowings and other capital market transactions.
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