AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Up 24.7% in December

AG Mortgage Investment Trust, Inc. (NYSE:MITT) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 543,800 shares, a growth of 24.7% from the December 15th total of 436,100 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average trading volume of 240,400 shares, the days-to-cover ratio is currently 2.3 days.

AG Mortgage Investment Trust Stock Performance

MITT stock traded up $0.02 during midday trading on Friday, reaching $6.55. 212,176 shares of the company were exchanged, compared to its average volume of 334,175. The stock’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $7.11. The company has a market cap of $193.14 million, a price-to-earnings ratio of 2.87 and a beta of 1.99. AG Mortgage Investment Trust has a 1-year low of $5.44 and a 1-year high of $7.95.

AG Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.61%. The ex-dividend date is Tuesday, December 31st. AG Mortgage Investment Trust’s payout ratio is currently 33.33%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of AG Mortgage Investment Trust by 34.6% in the 2nd quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after purchasing an additional 143,799 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of AG Mortgage Investment Trust by 189.6% in the third quarter. Wolverine Asset Management LLC now owns 185,997 shares of the real estate investment trust’s stock valued at $1,397,000 after acquiring an additional 121,771 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AG Mortgage Investment Trust by 105.4% during the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock worth $1,087,000 after purchasing an additional 84,037 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in AG Mortgage Investment Trust by 53.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 162,891 shares of the real estate investment trust’s stock valued at $1,223,000 after purchasing an additional 57,042 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in AG Mortgage Investment Trust in the 2nd quarter valued at approximately $291,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.