AG Mortgage Investment Trust (NYSE:MITT) Stock Crosses Above 200 Day Moving Average – Time to Sell?

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $7.78. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 181,891 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on MITT. JMP Securities restated a “market outperform” rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading increased their price target on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.30.

AG Mortgage Investment Trust Price Performance

The company’s 50 day simple moving average is $7.20 and its 200 day simple moving average is $7.14. The stock has a market cap of $226.15 million, a P/E ratio of 3.34 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $18.44 million. AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. On average, equities research analysts predict that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.20 dividend. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 10.49%. The ex-dividend date is Monday, March 31st. AG Mortgage Investment Trust’s dividend payout ratio is 65.04%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in AG Mortgage Investment Trust by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 2,047 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of AG Mortgage Investment Trust by 43.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 2,231 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AG Mortgage Investment Trust by 98.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 2,739 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AG Mortgage Investment Trust by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 2,839 shares during the period. Finally, Wells Fargo & Company MN lifted its position in AG Mortgage Investment Trust by 28.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 3,827 shares in the last quarter. Institutional investors 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.