AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Down 43.6% in March

AG Mortgage Investment Trust, Inc. (NYSE:MITT) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 115,800 shares, a drop of 43.6% from the February 29th total of 205,200 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 212,700 shares, the short-interest ratio is currently 0.5 days.

AG Mortgage Investment Trust Stock Up 0.2 %

Shares of NYSE MITT traded up $0.01 during trading on Thursday, hitting $6.02. The company had a trading volume of 23,221 shares, compared to its average volume of 211,521. The stock has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $5.81. AG Mortgage Investment Trust has a fifty-two week low of $4.82 and a fifty-two week high of $6.89. The firm has a market capitalization of $177.29 million, a price-to-earnings ratio of 3.82 and a beta of 1.98.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.18 dividend. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 11.96%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 12.74%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MITT shares. UBS Group started coverage on shares of AG Mortgage Investment Trust in a research report on Wednesday, December 6th. They set a “buy” rating and a $7.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.25.

Insiders Place Their Bets

In other AG Mortgage Investment Trust news, CEO Thomas Durkin bought 50,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $6.12 per share, with a total value of $306,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 372,832 shares in the company, valued at approximately $2,281,731.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AG Mortgage Investment Trust

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in AG Mortgage Investment Trust by 50.8% during the fourth quarter. Vanguard Group Inc. now owns 1,534,629 shares of the real estate investment trust’s stock worth $9,745,000 after acquiring an additional 516,726 shares during the last quarter. BlackRock Inc. boosted its position in AG Mortgage Investment Trust by 9.0% during the first quarter. BlackRock Inc. now owns 873,721 shares of the real estate investment trust’s stock worth $8,126,000 after acquiring an additional 72,462 shares during the last quarter. Northern Right Capital Management L.P. acquired a new position in AG Mortgage Investment Trust during the fourth quarter worth about $3,715,000. Beach Point Capital Management LP boosted its position in AG Mortgage Investment Trust by 68.0% during the fourth quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after acquiring an additional 232,895 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in AG Mortgage Investment Trust by 12.8% during the second quarter. Geode Capital Management LLC now owns 238,491 shares of the real estate investment trust’s stock worth $1,460,000 after purchasing an additional 26,979 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.