Jonestrading Reaffirms Buy Rating for AG Mortgage Investment Trust (NYSE:MITT)

AG Mortgage Investment Trust (NYSE:MITT)‘s stock had its “buy” rating reissued by analysts at Jonestrading in a research note issued to investors on Friday, Benzinga reports. They presently have a $8.00 target price on the real estate investment trust’s stock. Jonestrading’s price target would suggest a potential upside of 27.59% from the stock’s current price.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their target price on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 target price on shares of AG Mortgage Investment Trust in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

AG Mortgage Investment Trust Stock Up 8.9 %

Shares of NYSE:MITT traded up $0.51 on Friday, reaching $6.27. 489,487 shares of the company’s stock were exchanged, compared to its average volume of 198,665. AG Mortgage Investment Trust has a fifty-two week low of $4.82 and a fifty-two week high of $6.89. The business’s 50-day moving average is $5.88 and its two-hundred day moving average is $5.82. The firm has a market capitalization of $184.67 million, a price-to-earnings ratio of 3.99 and a beta of 1.98.

Insiders Place Their Bets

In related news, CEO Thomas Durkin bought 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $6.12 per share, with a total value of $306,000.00. Following the completion of the transaction, the chief executive officer now directly owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently bought and sold shares of the business. Beach Point Capital Management LP raised its position in shares of AG Mortgage Investment Trust by 68.0% in the fourth quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock valued at $3,653,000 after purchasing an additional 232,895 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of AG Mortgage Investment Trust in the first quarter valued at about $704,000. Wolverine Asset Management LLC increased its stake in shares of AG Mortgage Investment Trust by 64.1% in the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after purchasing an additional 51,709 shares during the period. Jump Financial LLC bought a new stake in AG Mortgage Investment Trust during the 4th quarter valued at approximately $280,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in AG Mortgage Investment Trust in the 4th quarter valued at approximately $231,000. 27.32% of the stock is owned by institutional investors and hedge funds.

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.