AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Recommendation of “Moderate Buy” by Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.50.

Several equities analysts have recently issued reports on MITT shares. Piper Sandler set a $8.50 price target on AG Mortgage Investment Trust and gave the company an “overweight” rating in a research note on Monday, August 4th. Jones Trading reissued 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. UBS Group increased their target price on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Friday. Finally, Wall Street Zen lowered AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th.

AG Mortgage Investment Trust Stock Down 1.4%

Shares of MITT opened at $7.33 on Friday. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $7.97. The firm has a market capitalization of $232.45 million, a PE ratio of 8.52 and a beta of 1.68. The stock’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $7.26.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The business had revenue of $11.49 million for the quarter. Analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.84 annualized dividend and a yield of 11.5%. AG Mortgage Investment Trust’s dividend payout ratio is presently 97.67%.

Insiders Place Their Bets

In related news, Director Matthew Jozoff bought 4,000 shares of the business’s 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 completion of the purchase, the director owned 79,355 shares of the company’s stock, valued at $583,259.25. This represents a 5.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of hedge funds have recently modified their holdings of MITT. Penserra Capital Management LLC acquired a new stake in shares of AG Mortgage Investment Trust during the second quarter worth about $1,128,000. Ieq Capital LLC bought a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $927,000. Acadian Asset Management LLC grew its holdings in shares of AG Mortgage Investment Trust by 65.7% during the first quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust’s stock worth $2,089,000 after buying an additional 113,564 shares in the last quarter. Bailard Inc. bought a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $553,000. Finally, Voya Investment Management LLC grew its holdings in shares of AG Mortgage Investment Trust by 151.6% during the first quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 62,873 shares in the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.