AG Mortgage Investment Trust, Inc. (NYSE:MITT) Stock Has Consensus Price Target of $8.92

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.92.

MITT has been the subject of a number of research reports. BTIG Research raised shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a report on Wednesday, June 17th. Weiss Ratings cut shares of AG Mortgage Investment Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, September 14th. JonesTrading dropped their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Piper Sandler cut their price objective on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd.

Institutional Trading of AG Mortgage Investment Trust

Several hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of AG Mortgage Investment Trust by 544.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 71,868 shares in the last quarter. Odyssean LLC grew its holdings in AG Mortgage Investment Trust by 220.2% during the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 69,639 shares in the last quarter. Hsbc Holdings PLC purchased a new position in AG Mortgage Investment Trust during the 1st quarter valued at approximately $359,000. NewEdge Advisors LLC bought a new stake in AG Mortgage Investment Trust in the 1st quarter worth approximately $149,000. Finally, Sigma Planning Corp purchased a new stake in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $82,000. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Down 2.0%

AG Mortgage Investment Trust stock opened at $5.64 on Friday. The business has a 50-day simple moving average of $6.58 and a two-hundred day simple moving average of $7.32. The company has a market cap of $179.51 million, a P/E ratio of 7.63 and a beta of 1.74. AG Mortgage Investment Trust has a 52-week low of $5.59 and a 52-week high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The business had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. Research analysts anticipate that AG Mortgage Investment Trust will post 1.04 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.96 annualized dividend and a yield of 17.0%. AG Mortgage Investment Trust’s payout ratio is 129.73%.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.