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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned an average rating of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.25.

A number of brokerages have recently issued reports on MITT. Jones Trading dropped their target price on AG Mortgage Investment Trust from $8.50 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock opened at $6.65 on Friday. AG Mortgage Investment Trust has a one year low of $5.63 and a one year high of $7.95. The stock has a fifty day moving average price of $6.94 and a 200 day moving average price of $6.94. The stock has a market cap of $197.23 million, a P/E ratio of 2.92 and a beta of 1.46.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings data 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 business had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. Equities research analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 12.03%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. AG Mortgage Investment Trust’s dividend payout ratio is currently 65.04%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of AG Mortgage Investment Trust by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 2,047 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 worth $49,000 after acquiring an additional 2,231 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of AG Mortgage Investment Trust by 98.1% during 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 period. JPMorgan Chase & Co. boosted its holdings in AG Mortgage Investment Trust by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in AG Mortgage Investment Trust by 28.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 3,827 shares during the period. 27.32% of the stock is owned by institutional investors.

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.