AG Mortgage Investment Trust, Inc. (MITT) to Issue Quarterly Dividend of $0.19 on October 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a yield of 9.68%. The ex-dividend date is Monday, September 30th.

AG Mortgage Investment Trust has a payout ratio of 72.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Stock Down 0.3 %

AG Mortgage Investment Trust stock traded down $0.02 during trading hours on Wednesday, hitting $7.85. 21,036 shares of the company traded hands, compared to its average volume of 227,341. The firm has a market cap of $231.37 million, a P/E ratio of 4.53 and a beta of 2.05. The firm’s 50-day simple moving average is $7.24 and its two-hundred day simple moving average is $6.65. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $7.94.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $99.82 million for the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period in the previous year, the business posted $0.08 EPS. On average, equities research analysts predict that AG Mortgage Investment Trust will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JMP Securities raised 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 note on Friday, July 19th. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. Keefe, Bruyette & Woods restated 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, StockNews.com cut shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average target price of $8.00.

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.