AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.00.

Several equities analysts have recently commented on the stock. JMP Securities boosted their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Piper Sandler began coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price on the stock. Jonestrading reiterated a “buy” rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. Finally, StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday.

AG Mortgage Investment Trust Stock Up 3.7 %

Shares of AG Mortgage Investment Trust stock opened at $7.25 on Tuesday. The stock has a market cap of $213.69 million, a PE ratio of 4.17 and a beta of 2.06. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $7.86. The business has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $6.48.

AG Mortgage Investment Trust (NYSE:MITT) last issued its 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). AG Mortgage Investment Trust had a net margin of 20.84% and a return on equity of 10.05%. The business had revenue of $99.82 million during the quarter, compared to analyst estimates of $17.00 million. During the same quarter in the prior year, the company earned $0.08 EPS. Analysts expect that AG Mortgage Investment Trust will post 0.89 EPS for the current fiscal 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 is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 10.48%. The ex-dividend date was Friday, June 28th. AG Mortgage Investment Trust’s payout ratio is 43.68%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. Wolverine Asset Management LLC increased its holdings in AG Mortgage Investment Trust by 64.1% in the 4th quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 51,709 shares during the period. Jump Financial LLC acquired a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at $280,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at $231,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of AG Mortgage Investment Trust by 37.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,718 shares during the period. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.