AG Mortgage Investment Trust (NYSE:MITT) Given New $8.50 Price Target at Citizens Jmp

AG Mortgage Investment Trust (NYSE:MITT) had its price objective dropped by stock analysts at Citizens Jmp from $9.25 to $8.50 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s target price points to a potential upside of 60.23% from the stock’s current price.

A number of other research firms have also recently weighed in on MITT. JonesTrading dropped their price target on AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings downgraded AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Citigroup reissued a “market outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday. Piper Sandler reduced their price objective on AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Finally, BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and a consensus target price of $8.54.

AG Mortgage Investment Trust Trading Down 3.2%

NYSE MITT opened at $5.30 on Thursday. The firm has a market cap of $168.70 million, a price-to-earnings ratio of 7.17 and a beta of 1.74. The company has a 50 day moving average of $6.36 and a 200-day moving average of $7.22. AG Mortgage Investment Trust has a 1-year low of $5.27 and a 1-year high of $9.27.

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

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in shares of AG Mortgage Investment Trust by 31.5% during the second quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 6,444 shares in the last quarter. Odyssean LLC grew its stake in shares of AG Mortgage Investment Trust by 220.2% during the second quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after purchasing an additional 69,639 shares during the last quarter. Bank of America Corp DE grew its stake in shares of AG Mortgage Investment Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 7,968 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of AG Mortgage Investment Trust by 3.5% during the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 10,255 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of AG Mortgage Investment Trust by 544.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 71,868 shares in the last quarter. 27.32% of the stock is owned by institutional investors.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.