AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.19 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Friday, June 14th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.76 annualized dividend and a yield of 11.05%. The ex-dividend date is Friday, June 28th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18.

AG Mortgage Investment Trust has a payout ratio of 77.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

AG Mortgage Investment Trust Stock Up 1.5 %

NYSE MITT traded up $0.10 on Friday, reaching $6.88. The stock had a trading volume of 164,321 shares, compared to its average volume of 190,882. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $6.99. The stock has a fifty day moving average price of $6.33 and a two-hundred day moving average price of $6.17. The firm has a market capitalization of $202.75 million, a price-to-earnings ratio of 3.90 and a beta of 2.04.

Wall Street Analyst Weigh In

MITT has been the subject of several research reports. StockNews.com upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. JMP Securities upped their price target on AG Mortgage Investment Trust from $7.00 to $7.50 and gave the stock a “market outperform” rating in a report on Thursday, May 30th. Keefe, Bruyette & Woods lifted their price objective on AG Mortgage Investment Trust from $7.00 to $7.50 and gave the company a “market perform” rating in a research note on Tuesday, May 7th. Finally, Jonestrading restated a “buy” rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.50.

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.