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 recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $8.30.

Several research analysts have recently weighed in on MITT shares. JMP Securities restated a “market outperform” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading boosted their price objective on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in shares of AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 2,739 shares during the period. Quarry LP boosted its stake in AG Mortgage Investment Trust by 158.9% during the fourth quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 3,914 shares during the period. Tower Research Capital LLC TRC increased its position in shares of AG Mortgage Investment Trust by 43.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 2,231 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of AG Mortgage Investment Trust during the fourth quarter valued at about $70,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $7.32 on Tuesday. AG Mortgage Investment Trust has a fifty-two week low of $5.44 and a fifty-two week high of $7.95. The stock’s fifty day moving average is $7.24 and its two-hundred day moving average is $7.13. The firm has a market capitalization of $217.19 million, a P/E ratio of 3.21 and a beta of 2.05.

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

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 10.92%. AG Mortgage Investment Trust’s dividend payout ratio is currently 65.04%.

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.