Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) PT at $9.25

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.25.

Several equities analysts recently issued reports on the company. JonesTrading boosted their price objective on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Finally, Credit Suisse Group set a $9.25 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MITT. CWM LLC raised its holdings in shares of AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,450 shares during the last quarter. Strs Ohio acquired a new position in AG Mortgage Investment Trust during the first quarter worth $39,000. BNP Paribas Financial Markets grew its position in AG Mortgage Investment Trust by 103.7% in the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in AG Mortgage Investment Trust in the fourth quarter valued at $40,000. Finally, Russell Investments Group Ltd. increased its stake 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 buying an additional 3,614 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock opened at $7.89 on Friday. The stock’s fifty day simple moving average is $7.89 and its 200 day simple moving average is $8.03. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 21.38. The company has a market capitalization of $250.23 million, a PE ratio of 8.96 and a beta of 1.69. AG Mortgage Investment Trust has a 12 month low of $6.03 and a 12 month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.16 million. AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%. On average, research analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.24 per share. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 12.2%. AG Mortgage Investment Trust’s dividend payout ratio is currently 109.09%.

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).