JonesTrading Has Lowered Expectations for AG Mortgage Investment Trust (NYSE:MITT) Stock Price

AG Mortgage Investment Trust (NYSE:MITTGet Free Report) had its price target cut by analysts at JonesTrading from $9.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s price target would suggest a potential upside of 28.49% from the stock’s current price.

MITT has been the topic of several other reports. BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods decreased their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. Finally, Piper Sandler lowered their price target on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.93.

Get Our Latest Stock Analysis on MITT

AG Mortgage Investment Trust Stock Down 12.2%

MITT stock traded down $0.86 during mid-day trading on Monday, hitting $6.23. 996,852 shares of the company were exchanged, compared to its average volume of 229,669. The firm has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.85. The company has a market capitalization of $198.01 million, a PE ratio of 15.59 and a beta of 1.65. AG Mortgage Investment Trust has a twelve month low of $5.93 and a twelve month high of $9.27. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76.

AG Mortgage Investment Trust (NYSE:MITTGet Free Report) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%.The firm had revenue of $23.39 million during the quarter, compared to analyst estimates of $25.06 million. On average, research analysts forecast that AG Mortgage Investment Trust will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently bought and sold shares of MITT. Kemnay Advisory Services Inc. bought a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth about $40,000. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at approximately $39,000. BNP Paribas Financial Markets lifted its holdings in AG Mortgage Investment Trust by 103.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares during the last quarter. Russell Investments Group Ltd. boosted its position 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 purchasing an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in AG Mortgage Investment Trust by 258.4% during the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 6,460 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company Profile

(Get Free Report)

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).

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