AG Mortgage Investment Trust, Inc. (MITT) Given Consensus Rating of “Buy” by Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.17.

MITT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub downgraded AG Mortgage Investment Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Credit Suisse Group reissued a “hold” rating and set a $18.00 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, August 10th. Finally, ValuEngine raised AG Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MITT. Creative Planning boosted its holdings in shares of AG Mortgage Investment Trust by 104.4% during the 2nd quarter. Creative Planning now owns 5,858 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,992 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of AG Mortgage Investment Trust by 59.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,937 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 2,596 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter valued at $197,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter valued at $220,000. Finally, Comerica Bank acquired a new stake in shares of AG Mortgage Investment Trust during the 1st quarter valued at $232,000. 64.72% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. The firm had revenue of $31.22 million for the quarter, compared to the consensus estimate of $21.76 million. AG Mortgage Investment Trust had a return on equity of 11.97% and a net margin of 85.21%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 9.84%. The ex-dividend date is Thursday, September 28th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 58.82%.

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