Prudential Financial Inc. Grows Position in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Prudential Financial Inc. increased its position in AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 509.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,047 shares of the real estate investment trust’s stock after buying an additional 76,100 shares during the quarter. Prudential Financial Inc.’s holdings in AG Mortgage Investment Trust were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in AG Mortgage Investment Trust by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 663,025 shares of the real estate investment trust’s stock worth $4,980,000 after acquiring an additional 36,081 shares during the last quarter. State Street Corp boosted its holdings in shares of AG Mortgage Investment Trust by 2.2% during the third quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock worth $2,655,000 after purchasing an additional 7,587 shares during the period. Wolverine Asset Management LLC grew its stake in shares of AG Mortgage Investment Trust by 5.0% in the fourth quarter. Wolverine Asset Management LLC now owns 195,367 shares of the real estate investment trust’s stock worth $1,299,000 after purchasing an additional 9,370 shares during the last quarter. Raymond James Financial Inc. purchased a new position in AG Mortgage Investment Trust during the 4th quarter valued at about $751,000. Finally, Charles Schwab Investment Management Inc. raised its position in AG Mortgage Investment Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 85,512 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 4,036 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Stock Down 2.7 %

MITT opened at $6.08 on Wednesday. The stock has a market capitalization of $180.45 million, a price-to-earnings ratio of 2.67 and a beta of 1.46. The firm has a 50 day moving average price of $7.26 and a 200-day moving average price of $7.08. AG Mortgage Investment Trust, Inc. has a twelve month low of $5.44 and a twelve month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. The firm had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. As a group, analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.15%. The ex-dividend date is Monday, March 31st. AG Mortgage Investment Trust’s payout ratio is currently 65.04%.

Analyst Upgrades and Downgrades

MITT has been the subject of a number of research analyst reports. Jones Trading raised their price target on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $8.30.

AG Mortgage Investment Trust Profile

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.