AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $7.78. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 181,891 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on MITT shares. Jones Trading increased their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average target price of $8.30.

AG Mortgage Investment Trust Stock Down 0.8 %

The firm’s 50 day simple moving average is $7.16 and its two-hundred day simple moving average is $7.13. The stock has a market capitalization of $227.48 million, a P/E ratio of 3.36 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 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $22.00 million during the quarter, compared to the consensus estimate of $18.44 million. AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. As a group, equities research analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 10.43%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. AG Mortgage Investment Trust’s payout ratio is 65.04%.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in AG Mortgage Investment Trust by 98.1% in the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 2,739 shares during the last quarter. Quarry LP lifted its stake in AG Mortgage Investment Trust by 158.9% in the fourth quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 3,914 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in AG Mortgage Investment Trust by 43.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 2,231 shares during the period. LPL Financial LLC bought a new position in AG Mortgage Investment Trust during the fourth quarter valued at $70,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in AG Mortgage Investment Trust in the fourth quarter worth $70,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

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.