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

by · The Cerbat Gem

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.9167.

MITT has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. JonesTrading cut their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th.

Get Our Latest Report on AG Mortgage Investment Trust

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of AG Mortgage Investment Trust by 105.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,628 shares in the last quarter. Cetera Investment Advisers grew its position in AG Mortgage Investment Trust by 5.9% in the 4th quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 1,732 shares during the period. Russell Investments Group Ltd. increased its stake in AG Mortgage Investment Trust by 32.9% during the 4th quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 2,334 shares in the last quarter. BNP Paribas Financial Markets increased its stake in AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in AG Mortgage Investment Trust by 7.8% during the fourth quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 3,068 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $6.82 on Tuesday. The firm has a 50 day moving average of $7.13 and a 200-day moving average of $7.56. The company has a market cap of $216.88 million, a price-to-earnings ratio of 9.22 and a beta of 1.64. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 22.56. AG Mortgage Investment Trust has a 52 week low of $5.93 and a 52 week high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) last released its earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $26.13 million. AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. On average, equities analysts forecast that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date of this dividend was Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 129.73%.

About AG Mortgage Investment Trust

(Get Free Report)

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).

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