AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Recommendation of “Moderate Buy” by Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.30.

MITT has been the subject of a number of recent research reports. Jones Trading lifted their price objective on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd.

AG Mortgage Investment Trust Stock Performance

MITT stock opened at $6.69 on Tuesday. AG Mortgage Investment Trust has a fifty-two week low of $5.44 and a fifty-two week high of $7.95. The stock has a fifty day moving average of $7.28 and a 200-day moving average of $7.12. The company has a market capitalization of $198.42 million, a price-to-earnings ratio of 2.93 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The business had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. Equities analysts predict that AG Mortgage Investment Trust will post 0.78 EPS 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 11.96%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 65.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MITT. Geode Capital Management LLC boosted its stake in AG Mortgage Investment Trust by 5.8% during the third quarter. Geode Capital Management LLC now owns 663,025 shares of the real estate investment trust’s stock valued at $4,980,000 after buying an additional 36,081 shares during the period. State Street Corp raised its holdings in shares of AG Mortgage Investment Trust by 2.2% in the 3rd quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock valued at $2,655,000 after acquiring an additional 7,587 shares in the last quarter. Northern Trust Corp boosted its position in shares of AG Mortgage Investment Trust by 10.2% during the 4th quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust’s stock valued at $1,849,000 after acquiring an additional 25,736 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in shares of AG Mortgage Investment Trust by 5.0% during 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of AG Mortgage Investment Trust in the fourth quarter worth approximately $751,000. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company 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.