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

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.00.

A number of research analysts have commented on the company. JMP Securities boosted their target price on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $7.50 price objective on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, StockNews.com downgraded shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st.

AG Mortgage Investment Trust Stock Down 0.1 %

Shares of NYSE MITT opened at $7.23 on Wednesday. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $7.95. The business has a fifty day simple moving average of $7.28 and a 200-day simple moving average of $6.82. The company has a market cap of $213.10 million, a price-to-earnings ratio of 4.16 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results 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 business had revenue of $99.82 million during the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. During the same period last year, the business earned $0.08 EPS. As a group, sell-side analysts expect that AG Mortgage Investment Trust will post 0.82 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.51%. AG Mortgage Investment Trust’s dividend payout ratio is currently 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of MITT. Bank of New York Mellon Corp grew its stake in shares of AG Mortgage Investment Trust by 105.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after purchasing an additional 84,037 shares during the period. Janney Montgomery Scott LLC acquired a new position in AG Mortgage Investment Trust during the first quarter worth $704,000. Renaissance Technologies LLC lifted its holdings in shares of AG Mortgage Investment Trust by 34.6% during the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after acquiring an additional 143,799 shares during the period. LSV Asset Management acquired a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter valued at $1,110,000. Finally, Napa Wealth Management bought a new stake in shares of AG Mortgage Investment Trust in the 4th quarter worth about $96,000. Institutional investors own 27.32% of the company’s stock.

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.