Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.54.
MITT has been the topic of a number of recent research reports. Piper Sandler lowered their target price on AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Citigroup reaffirmed a “market outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, October 15th. JonesTrading reduced their price target on AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 10th. Citizens Jmp lowered their price target on AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating for the company in a research note on Thursday, October 15th. Finally, Weiss Ratings cut AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th.
Check Out Our Latest Stock Analysis on AG Mortgage Investment Trust
AG Mortgage Investment Trust Stock Down 1.8%
AG Mortgage Investment Trust stock opened at $5.67 on Wednesday. The company’s fifty day simple moving average is $6.02 and its 200-day simple moving average is $7.34. AG Mortgage Investment Trust has a 12 month low of $5.20 and a 12 month high of $9.27. The stock has a market cap of $180.18 million, a P/E ratio of 7.66 and a beta of 1.78.
AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million during the quarter, compared to analyst estimates of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. On average, equities research analysts expect that AG Mortgage Investment Trust will post 1.04 earnings per share for the current fiscal year.
AG Mortgage Investment Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a $0.24 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 16.9%. AG Mortgage Investment Trust’s payout ratio is 129.73%.
Institutional Trading of AG Mortgage Investment Trust
Several large investors have recently added to or reduced their stakes in MITT. Renaissance Technologies LLC increased its stake in shares of AG Mortgage Investment Trust by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 10,255 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of AG Mortgage Investment Trust by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 7,770 shares during the last quarter. Odyssean LLC lifted its stake in shares of AG Mortgage Investment Trust by 220.2% in the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after purchasing an additional 69,639 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of AG Mortgage Investment Trust by 544.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 71,868 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of AG Mortgage Investment Trust in the 1st quarter valued at $359,000. 27.32% of the stock is owned by institutional investors.
AG Mortgage Investment Trust Company Profile
AG Mortgage Investment Trust, Inc is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other housing-related investments.
AG Mortgage Investment Trust’s investment activities are focused mainly on the U.S. residential mortgage market. Its portfolio may include loans and securities backed by a range of residential properties and borrowers, providing exposure to different segments of the housing and mortgage finance sectors.
Founded in 2011, the company is externally managed by AG REIT Management, LLC, an affiliate of Angelo Gordon, an alternative investment firm.
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