AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.9167.

MITT has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. JonesTrading cut their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of AG Mortgage Investment Trust by 105.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,628 shares in the last quarter. Cetera Investment Advisers grew its position in AG Mortgage Investment Trust by 5.9% in the 4th quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 1,732 shares during the period. Russell Investments Group Ltd. increased its stake in AG Mortgage Investment Trust by 32.9% during the 4th quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 2,334 shares in the last quarter. BNP Paribas Financial Markets increased its stake in AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in AG Mortgage Investment Trust by 7.8% during the fourth quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 3,068 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $6.82 on Tuesday. The firm has a 50 day moving average of $7.13 and a 200-day moving average of $7.56. The company has a market cap of $216.88 million, a price-to-earnings ratio of 9.22 and a beta of 1.64. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 22.56. AG Mortgage Investment Trust has a 52 week low of $5.93 and a 52 week high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $26.13 million. AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. On average, equities analysts forecast that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date of this dividend was Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 129.73%.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).