AG Mortgage Investment Trust, Inc. (MITT) to Issue Quarterly Dividend of $0.24 on July 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, June 16th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date is Tuesday, June 30th.

AG Mortgage Investment Trust has raised its dividend by an average of 0.6%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a payout ratio of 88.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect AG Mortgage Investment Trust to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 77.4%.

AG Mortgage Investment Trust Stock Down 0.6%

Shares of NYSE MITT opened at $7.89 on Thursday. AG Mortgage Investment Trust has a one year low of $6.86 and a one year high of $9.27. The company has a debt-to-equity ratio of 23.76, a current ratio of 10.33 and a quick ratio of 10.33. The firm’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $8.13. The stock has a market capitalization of $250.87 million, a P/E ratio of 19.72 and a beta of 1.63.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%.The firm had revenue of $6.47 million during the quarter, compared to analyst estimates of $21.97 million. As a group, analysts expect that AG Mortgage Investment Trust will post 1.09 EPS for the current fiscal year.

Institutional Trading of AG Mortgage Investment Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MITT. Angelo Gordon & CO. L.P. lifted its position in AG Mortgage Investment Trust by 703.3% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock valued at $16,768,000 after buying an additional 2,027,676 shares during the period. Millennium Management LLC purchased a new position in AG Mortgage Investment Trust during the fourth quarter valued at $2,002,000. Arrowstreet Capital Limited Partnership lifted its position in AG Mortgage Investment Trust by 544.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after buying an additional 71,868 shares during the period. Hsbc Holdings PLC purchased a new position in AG Mortgage Investment Trust during the first quarter valued at $359,000. Finally, Jane Street Group LLC purchased a new position in AG Mortgage Investment Trust during the fourth quarter valued at $421,000. Hedge funds and other institutional investors 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).