AG Mortgage Investment Trust (NYSE:MITT) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Piper Sandler started 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 price objective for the company. JMP Securities lifted their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average target price of $8.00.

AG Mortgage Investment Trust Price Performance

Shares of MITT opened at $7.26 on Friday. The business’s 50 day simple moving average is $7.42 and its 200-day simple moving average is $6.94. AG Mortgage Investment Trust has a one year low of $4.90 and a one year high of $7.95. The company has a market capitalization of $214.10 million, a P/E ratio of 4.68 and a beta of 2.05.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Transcend Capital Advisors LLC grew its stake in 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 valued at $148,000 after acquiring an additional 2,500 shares during the period. Naviter Wealth LLC grew its position in shares of AG Mortgage Investment Trust by 30.9% in the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4,000 shares during the period. The Manufacturers Life Insurance Company bought a new stake in AG Mortgage Investment Trust during the 2nd quarter worth approximately $72,000. Algert Global LLC acquired a new stake in AG Mortgage Investment Trust during the 2nd quarter worth approximately $81,000. Finally, SG Americas Securities LLC bought a new position in AG Mortgage Investment Trust in the third quarter valued at approximately $93,000. 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.