AG Mortgage Investment Trust (NYSE:MITT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.49 and traded as high as $8.21. AG Mortgage Investment Trust shares last traded at $8.0450, with a volume of 63,059 shares.

Analyst Upgrades and Downgrades

MITT has been the subject of several recent research reports. UBS Group raised their price target on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Piper Sandler set a $8.50 target price on AG Mortgage Investment Trust and gave the company an “overweight” rating in a report on Monday, August 4th. Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Jones Trading reiterated a “buy” rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, November 4th. Finally, Zacks Research upgraded shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.60.

AG Mortgage Investment Trust Stock Performance

The firm has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $7.49. The company has a market capitalization of $255.35 million, a PE ratio of 8.65 and a beta of 1.68.

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

AG Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.4%. AG Mortgage Investment Trust’s payout ratio is presently 90.32%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of MITT. CWM LLC boosted its holdings in AG Mortgage Investment Trust by 173.6% during the third 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 in the last quarter. BNP Paribas Financial Markets increased its stake in AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,756 shares in the last quarter. Strs Ohio acquired a new stake in shares of AG Mortgage Investment Trust in the first quarter worth approximately $39,000. Russell Investments Group Ltd. lifted its holdings in AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of AG Mortgage Investment Trust by 258.4% in the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 6,460 shares in the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.