AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Update

AG Mortgage Investment Trust, Inc. (NYSE:MITT) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 379,484 shares, a decline of 12.5% from the December 31st total of 433,602 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 193,347 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 193,347 shares, the short-interest ratio is currently 2.0 days. Currently, 1.2% of the shares of the stock are sold short.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock opened at $8.64 on Thursday. The firm’s 50-day moving average is $8.66 and its two-hundred day moving average is $7.92. AG Mortgage Investment Trust has a 12 month low of $5.63 and a 12 month high of $9.27. The company has a market capitalization of $274.23 million, a PE ratio of 9.29 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $30.21 million during the quarter, compared to analysts’ expectations of $19.80 million. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. Sell-side analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 10.6%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, December 31st. AG Mortgage Investment Trust’s payout ratio is 98.92%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up previously from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price target on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, October 8th. Finally, Citizens Jmp raised their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a “market outperform” rating in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.17.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several large investors have recently modified their holdings of MITT. Janney Montgomery Scott LLC lifted its stake in AG Mortgage Investment Trust by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 168,478 shares of the real estate investment trust’s stock worth $1,272,000 after acquiring an additional 1,350 shares in the last quarter. BNP Paribas Financial Markets increased its stake in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares during the period. CWM LLC lifted its position in shares of 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 purchasing an additional 3,450 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of AG Mortgage Investment Trust by 23.1% in the third quarter. Alliancebernstein L.P. now owns 20,270 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,800 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).