Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $8.50

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.50.

Several analysts have issued reports on MITT shares. Jones Trading restated a “buy” rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a research note on Friday, August 1st. Keefe, Bruyette & Woods lifted their price objective on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a “market perform” rating in a research note on Thursday, July 10th. UBS Group lifted their price target on 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. Finally, Wall Street Zen downgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, July 12th.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $7.56 on Tuesday. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $7.97. The firm’s 50-day simple moving average is $7.57 and its two-hundred day simple moving average is $7.28. The firm has a market cap of $239.89 million, a price-to-earnings ratio of 8.79 and a beta of 1.67.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The company had revenue of $21.30 million during the quarter, compared to the consensus estimate of $21.04 million. Analysts forecast that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.84 annualized dividend and a yield of 11.1%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 97.67%.

Insiders Place Their Bets

In other AG Mortgage Investment Trust news, Director Matthew Jozoff purchased 4,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $7.35 per share, with a total value of $29,400.00. Following the acquisition, the director directly owned 79,355 shares in the company, valued at approximately $583,259.25. The trade was a 5.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently bought and sold shares of MITT. Penserra Capital Management LLC purchased a new stake in AG Mortgage Investment Trust during the second quarter valued at about $1,128,000. Ieq Capital LLC purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at about $927,000. Acadian Asset Management LLC grew its position in AG Mortgage Investment Trust by 65.7% during the 1st quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust’s stock worth $2,089,000 after acquiring an additional 113,564 shares during the last quarter. Bailard Inc. bought a new position in AG Mortgage Investment Trust during the 1st quarter worth approximately $553,000. Finally, Voya Investment Management LLC lifted its position in AG Mortgage Investment Trust by 151.6% in the first quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 62,873 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

About AG Mortgage Investment Trust

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.