AG Mortgage Investment Trust, Inc. Declares Quarterly Dividend of $0.48 (MITT)
AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, September 12th, Wall Street Journal reports. Investors of record on Friday, September 29th will be given a dividend of 0.475 per share by the real estate investment trust on Tuesday, October 31st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date is Thursday, September 28th.
AG Mortgage Investment Trust has decreased its dividend payment by an average of 14.1% annually over the last three years. AG Mortgage Investment Trust has a dividend payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
AG Mortgage Investment Trust (NYSE:MITT) traded down 0.99% during midday trading on Wednesday, hitting $19.05. 139,557 shares of the company were exchanged. AG Mortgage Investment Trust has a one year low of $14.61 and a one year high of $19.57. The stock has a market capitalization of $530.12 million, a PE ratio of 5.88 and a beta of 0.92. The firm’s 50-day moving average price is $18.99 and its 200-day moving average price is $18.49.
AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. The business had revenue of $31.22 million during the quarter, compared to analyst estimates of $21.76 million. AG Mortgage Investment Trust had a net margin of 85.21% and a return on equity of 11.97%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. Equities research analysts anticipate that AG Mortgage Investment Trust will post $1.82 earnings per share for the current year.
A number of brokerages recently issued reports on MITT. ValuEngine upgraded shares of AG Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Credit Suisse Group reiterated a “hold” rating and issued a $18.00 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.38.
ILLEGAL ACTIVITY WARNING: “AG Mortgage Investment Trust, Inc. Declares Quarterly Dividend of $0.48 (MITT)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/09/13/ag-mortgage-investment-trust-inc-declares-quarterly-dividend-of-0-48-mitt.html.
AG Mortgage Investment Trust Company Profile
Receive News & Stock Ratings for AG Mortgage Investment Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AG Mortgage Investment Trust Inc. and related stocks with our FREE daily email newsletter.