AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.00.

MITT has been the topic of several recent analyst reports. StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Saturday. JMP Securities upped their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler initiated coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target on the stock.

AG Mortgage Investment Trust Trading Down 1.4 %

Shares of NYSE MITT opened at $7.19 on Friday. AG Mortgage Investment Trust has a twelve month low of $5.06 and a twelve month high of $7.95. The stock has a fifty day simple moving average of $7.45 and a 200-day simple moving average of $6.98. The stock has a market capitalization of $212.03 million, a PE ratio of 4.64 and a beta of 2.04.

AG Mortgage Investment Trust (NYSE:MITT) last released 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). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The company had revenue of $99.82 million for the quarter, compared to analyst estimates of $17.00 million. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, equities analysts predict that AG Mortgage Investment Trust will post 0.84 earnings per share for the current year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 10.57%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 49.03%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in AG Mortgage Investment Trust during the second quarter valued at about $72,000. Algert Global LLC bought a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter worth about $81,000. SG Americas Securities LLC bought a new stake in shares of AG Mortgage Investment Trust during the 3rd quarter worth about $93,000. Naviter Wealth LLC boosted its holdings in shares of AG Mortgage Investment Trust by 26.3% during the 2nd quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 4,450 shares during the period. Finally, Transcend Capital Advisors LLC boosted its holdings in shares of AG Mortgage Investment Trust by 12.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.