AG Mortgage Investment Trust (NYSE:MITT) Downgraded to “Hold” at StockNews.com

AG Mortgage Investment Trust (NYSE:MITT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other equities analysts also recently issued reports about the company. 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 price target for the company. JMP Securities increased their target price on shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. Finally, Jonestrading restated a “buy” rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.00.

AG Mortgage Investment Trust Price Performance

Shares of MITT traded up $0.12 during midday trading on Wednesday, reaching $6.92. The stock had a trading volume of 258,218 shares, compared to its average volume of 232,719. The company’s fifty day simple moving average is $6.99 and its two-hundred day simple moving average is $6.46. The company has a market cap of $203.81 million, a price-to-earnings ratio of 3.97 and a beta of 2.06. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $7.86.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $99.82 million during the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a net margin of 20.84% and a return on equity of 10.05%. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, sell-side analysts forecast that AG Mortgage Investment Trust will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new position in AG Mortgage Investment Trust during the 4th quarter worth approximately $231,000. Wolverine Asset Management LLC grew its holdings in AG Mortgage Investment Trust by 64.1% during the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after acquiring an additional 51,709 shares during the period. Naviter Wealth LLC purchased a new position in AG Mortgage Investment Trust in the fourth quarter worth $83,000. Jump Financial LLC acquired a new stake in AG Mortgage Investment Trust in the fourth quarter valued at $280,000. Finally, Napa Wealth Management purchased a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth $96,000. Hedge funds and other 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.