AG Mortgage Investment Trust, Inc. (NYSE:MITT) Stock Rated “Moderate Buy” by Sell-Side Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.54.

Several research analysts have weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, October 15th. Piper Sandler dropped their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Citizens Jmp reduced their price target on shares of AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings downgraded shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, JonesTrading decreased 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 report on Monday, August 10th.

AG Mortgage Investment Trust Stock Up 1.4%

Shares of AG Mortgage Investment Trust stock opened at $5.57 on Wednesday. AG Mortgage Investment Trust has a 52 week low of $5.20 and a 52 week high of $9.27. The business’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $7.42.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $26.13 million. As a group, sell-side analysts expect that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 17.3%. The ex-dividend date is Wednesday, September 30th.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after acquiring an additional 10,255 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in AG Mortgage Investment Trust by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 7,770 shares during the period. Odyssean LLC increased its stake in 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 worth $802,000 after purchasing an additional 69,639 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in AG Mortgage Investment Trust by 544.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock worth $622,000 after purchasing an additional 71,868 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of AG Mortgage Investment Trust during the first quarter worth about $359,000. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other housing-related investments.

AG Mortgage Investment Trust’s investment activities are focused mainly on the U.S. residential mortgage market. Its portfolio may include loans and securities backed by a range of residential properties and borrowers, providing exposure to different segments of the housing and mortgage finance sectors.

Founded in 2011, the company is externally managed by AG REIT Management, LLC, an affiliate of Angelo Gordon, an alternative investment firm.