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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been assigned a consensus rating of “Buy” from the four analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $8.38.

A number of research firms have issued reports on MITT. Wall Street Zen raised AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Jones Trading reaffirmed a “buy” rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Tuesday, May 6th. Finally, UBS Group set a $8.00 target price on AG Mortgage Investment Trust and gave the company a “buy” rating in a report on Wednesday, May 14th.

Institutional Trading of AG Mortgage Investment Trust

Institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $39,000. Russell Investments Group Ltd. grew its holdings in shares of AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 2,739 shares in the last quarter. Quarry LP grew its holdings in shares of AG Mortgage Investment Trust by 158.9% during the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 3,914 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of AG Mortgage Investment Trust by 43.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 2,231 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $7.55 on Friday. The stock’s 50 day simple moving average is $6.89 and its 200 day simple moving average is $6.96. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $7.95. The company has a market capitalization of $223.94 million, a price-to-earnings ratio of 8.48 and a beta of 1.55.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.67 million. AG Mortgage Investment Trust had a net margin of 10.98% and a return on equity of 11.86%. On average, analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 11.13%. The ex-dividend date is Monday, June 30th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.20. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 89.89%.

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.