AG Mortgage Investment Trust, Inc. (NYSE:MITT) to Issue Quarterly Dividend of $0.20

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.34%. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a payout ratio of 71.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 3.0 %

AG Mortgage Investment Trust stock opened at $7.74 on Wednesday. The company has a market capitalization of $229.41 million, a P/E ratio of 3.39 and a beta of 2.05. The firm’s fifty day simple moving average is $7.02 and its 200-day simple moving average is $7.12. AG Mortgage Investment Trust has a 1-year low of $5.44 and a 1-year high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $22.00 million during the quarter, compared to the consensus estimate of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. On average, equities research analysts predict that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jones Trading lifted their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

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.