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

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.60.

MITT has been the subject of a number of analyst reports. Piper Sandler set a $8.50 price target on AG Mortgage Investment Trust and gave the stock an “overweight” rating in a report on Monday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. UBS Group boosted their target price on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday.

Insider Buying and Selling at AG Mortgage Investment Trust

In other AG Mortgage Investment Trust news, Director Matthew Jozoff acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the acquisition, the director directly owned 79,355 shares of the company’s stock, valued at $583,259.25. This trade represents a 5.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in MITT. CWM LLC boosted its stake in AG Mortgage Investment Trust by 173.6% in the 3rd quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,450 shares during the last quarter. Strs Ohio acquired a new position in shares of AG Mortgage Investment Trust during the 1st quarter valued at about $39,000. AlphaQuest LLC purchased a new position in shares of AG Mortgage Investment Trust during the 3rd quarter worth about $68,000. Sei Investments Co. acquired a new stake in shares of AG Mortgage Investment Trust in the second quarter worth approximately $79,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in AG Mortgage Investment Trust in the second quarter valued at approximately $79,000. 27.32% of the stock is currently owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

Shares of NYSE MITT opened at $7.89 on Wednesday. The firm’s 50-day moving average is $7.47 and its two-hundred day moving average is $7.39. The company has a market capitalization of $250.40 million, a PE ratio of 8.48 and a beta of 1.68. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The firm had revenue of $11.49 million during the quarter. On average, analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Tuesday, September 30th. AG Mortgage Investment Trust’s payout ratio is presently 90.32%.

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.