The Manufacturers Life Insurance Company Takes $72,000 Position in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

The Manufacturers Life Insurance Company purchased a new position in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,819 shares of the real estate investment trust’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Naviter Wealth LLC boosted its stake in AG Mortgage Investment Trust by 30.9% during the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4,000 shares during the period. Transcend Capital Advisors LLC lifted its holdings in shares of AG Mortgage Investment Trust by 12.6% in the 2nd 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 last quarter. Rhumbline Advisers boosted its position in shares of AG Mortgage Investment Trust by 5,557.2% during the 2nd quarter. Rhumbline Advisers now owns 39,770 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 39,067 shares during the period. Acadian Asset Management LLC acquired a new stake in AG Mortgage Investment Trust in the 2nd quarter valued at approximately $291,000. Finally, Marshall Wace LLP raised its position in AG Mortgage Investment Trust by 32.0% in the second quarter. Marshall Wace LLP now owns 91,416 shares of the real estate investment trust’s stock valued at $607,000 after purchasing an additional 22,143 shares during the period. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock opened at $7.56 on Monday. The stock’s fifty day moving average is $7.35 and its two-hundred day moving average is $6.89. The stock has a market cap of $222.82 million, a PE ratio of 4.34 and a beta of 2.05. AG Mortgage Investment Trust, Inc. has a 1-year low of $4.82 and a 1-year high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $99.82 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.08 EPS. On average, research analysts expect that AG Mortgage Investment Trust, Inc. will post 0.84 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 10.05%. The ex-dividend date of this dividend is Monday, September 30th. AG Mortgage Investment Trust’s payout ratio is 43.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JMP Securities lifted 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 report on Friday, July 19th. Finally, Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They set an “overweight” rating and a $9.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.00.

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.