AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.50.

Several equities analysts have commented on the stock. Jones Trading reiterated a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Wednesday, October 8th. Piper Sandler set a $8.50 price target on AG Mortgage Investment Trust and gave the stock an “overweight” rating in a research report on Monday, August 4th. UBS Group upped their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a “market perform” rating in a research note on Thursday, July 10th.

Insider Activity

In related news, Director Matthew Jozoff acquired 4,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $7.35 per share, with a total value of $29,400.00. Following the transaction, the director directly owned 79,355 shares in the company, valued at approximately $583,259.25. This represents a 5.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently bought and sold shares of the business. CWM LLC grew its stake in AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,450 shares during the last quarter. Strs Ohio purchased a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at $39,000. Sei Investments Co. purchased a new stake in AG Mortgage Investment Trust during the 2nd quarter valued at about $79,000. The Manufacturers Life Insurance Company acquired a new stake in shares of AG Mortgage Investment Trust during the second quarter worth about $79,000. Finally, AlphaQuest LLC purchased a new stake in AG Mortgage Investment Trust in the first quarter valued at approximately $168,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Price Performance

NYSE MITT opened at $7.33 on Friday. AG Mortgage Investment Trust has a 1-year low of $5.63 and a 1-year high of $7.97. The business has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $7.24. The stock has a market capitalization of $232.71 million, a PE ratio of 8.53 and a beta of 1.68.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 EPS for the quarter. AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The firm had revenue of $11.49 million during the quarter. On average, analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Tuesday, September 30th. AG Mortgage Investment Trust’s payout ratio is 97.67%.

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.