California State Teachers Retirement System lowered its stake in MTGE Investment Corp. (NASDAQ:MTGE) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,969 shares of the real estate investment trust’s stock after selling 8,140 shares during the quarter. California State Teachers Retirement System’s holdings in MTGE Investment were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of MTGE. SG Americas Securities LLC bought a new position in MTGE Investment in the 3rd quarter worth about $171,000. Advisor Group Inc. boosted its stake in MTGE Investment by 62.2% in the 3rd quarter. Advisor Group Inc. now owns 9,383 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 3,598 shares during the period. Invictus RG boosted its stake in MTGE Investment by 92.9% in the 3rd quarter. Invictus RG now owns 17,647 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 8,499 shares during the period. Sei Investments Co. boosted its stake in MTGE Investment by 64.3% in the 3rd quarter. Sei Investments Co. now owns 43,903 shares of the real estate investment trust’s stock worth $852,000 after purchasing an additional 17,176 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its stake in MTGE Investment by 8.4% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 51,700 shares of the real estate investment trust’s stock worth $1,003,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 74.68% of the company’s stock.
Several research firms have weighed in on MTGE. BidaskClub cut MTGE Investment from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Maxim Group raised their price target on MTGE Investment from $20.50 to $21.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.50.
MTGE Investment (NASDAQ:MTGE) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). MTGE Investment had a net margin of 89.01% and a return on equity of 10.52%. The business had revenue of $21.54 million during the quarter, compared to analysts’ expectations of $31.36 million. During the same period in the previous year, the business earned $1.48 EPS. The business’s revenue was down 15.6% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Friday, December 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 11.02%. This is a boost from MTGE Investment’s previous quarterly dividend of $0.45. MTGE Investment’s dividend payout ratio (DPR) is presently 111.11%.
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MTGE Investment Profile
MTGE Investment Corp., formerly American Capital Mortgage Investment Corp., is a real estate investment trust. The Company invests in, finances and manages a leveraged portfolio of real estate-related investments, which include agency residential mortgage-backed securities (RMBS), non-agency securities, other mortgage-related investments and other real estate investments.
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