Naviter Wealth LLC Grows Stake in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Naviter Wealth LLC increased its stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 26.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,397 shares of the real estate investment trust’s stock after purchasing an additional 4,450 shares during the period. Naviter Wealth LLC owned 0.07% of AG Mortgage Investment Trust worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of AG Mortgage Investment Trust during the first quarter worth $704,000. Bank of New York Mellon Corp grew its stake in AG Mortgage Investment Trust by 105.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after acquiring an additional 84,037 shares in the last quarter. Jump Financial LLC purchased a new stake in AG Mortgage Investment Trust during the 4th quarter valued at about $280,000. Rhumbline Advisers raised its holdings in AG Mortgage Investment Trust by 5,557.2% in the 2nd quarter. Rhumbline Advisers now owns 39,770 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 39,067 shares during the last quarter. Finally, Napa Wealth Management purchased a new position in AG Mortgage Investment Trust in the 4th quarter worth approximately $96,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Stock Down 1.2 %

MITT stock opened at $7.35 on Wednesday. AG Mortgage Investment Trust, Inc. has a 52-week low of $4.82 and a 52-week high of $7.86. The business has a fifty day moving average of $7.08 and a two-hundred day moving average of $6.55. The stock has a market cap of $216.63 million, a price-to-earnings ratio of 4.22 and a beta of 2.06.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. The company had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, sell-side analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.82 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.34%. The ex-dividend date was Friday, June 28th. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MITT shares. JMP Securities upped their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler started coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. StockNews.com lowered AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.50 price target on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.00.

AG Mortgage Investment Trust Company Profile

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.