AG Mortgage Investment Trust (NYSE:MITT) Rating Lowered to “Hold” at StockNews.com

AG Mortgage Investment Trust (NYSE:MITT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also recently issued reports about the stock. JMP Securities lifted their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They set an “overweight” rating and a $9.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

AG Mortgage Investment Trust Stock Down 1.4 %

MITT opened at $7.19 on Friday. AG Mortgage Investment Trust has a 52 week low of $5.06 and a 52 week high of $7.95. The stock has a market cap of $212.03 million, a PE ratio of 4.64 and a beta of 2.05. The business has a 50 day moving average of $7.45 and a 200-day moving average of $6.98.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $99.82 million for the quarter, compared to analysts’ expectations of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period in the prior year, the business posted $0.08 EPS. Equities analysts anticipate that AG Mortgage Investment Trust will post 0.84 EPS for the current year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently made changes to their positions in MITT. The Manufacturers Life Insurance Company purchased a new stake in shares of AG Mortgage Investment Trust during the second quarter valued at $72,000. Algert Global LLC bought a new position in AG Mortgage Investment Trust during the 2nd quarter valued at about $81,000. SG Americas Securities LLC purchased a new stake in shares of AG Mortgage Investment Trust during the 3rd quarter valued at about $93,000. Naviter Wealth LLC grew its stake in shares of AG Mortgage Investment Trust by 26.3% in the second quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust’s stock worth $146,000 after acquiring an additional 4,450 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 27.32% of the company’s stock.

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.