AG Mortgage Investment Trust (NYSE:MITT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. JonesTrading reduced their price objective on shares of AG Mortgage Investment Trust from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Weiss Ratings lowered shares of AG Mortgage Investment Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, November 9th. Citigroup reiterated a “market outperform” rating on shares of AG Mortgage Investment Trust in a report on Thursday, October 15th. Piper Sandler cut their target price 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. Finally, Citizens Jmp decreased their price target on shares of AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating for the company in a report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.38.

AG Mortgage Investment Trust Stock Up 1.8%

Shares of NYSE:MITT traded up $0.07 on Friday, reaching $4.25. The company had a trading volume of 550,766 shares, compared to its average volume of 451,244. The stock has a market capitalization of $135.31 million, a P/E ratio of -19.34 and a beta of 1.78. The stock has a 50-day moving average price of $5.68 and a 200 day moving average price of $7.17. AG Mortgage Investment Trust has a twelve month low of $4.05 and a twelve month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). AG Mortgage Investment Trust had a net margin of 2.64% and a return on equity of 15.85%. The company had revenue of $3.03 million for the quarter, compared to analyst estimates of $16.30 million. On average, sell-side analysts predict that AG Mortgage Investment Trust will post 0.94 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a $0.24 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 22.6%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently -436.36%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several large investors have recently bought and sold shares of the stock. 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 worth $2,237,000 after purchasing an additional 10,255 shares during the last quarter. Odyssean LLC lifted its stake in shares of AG Mortgage Investment Trust by 220.2% in the second quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 69,639 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake 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 buying an additional 71,868 shares during the period. Hsbc Holdings PLC acquired a new stake in AG Mortgage Investment Trust during the first quarter worth about $359,000. Finally, Bank of America Corp DE increased its stake in 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 acquiring an additional 7,968 shares during the period. 27.32% of the stock is currently owned by institutional investors and hedge funds.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc. (NYSE: MITT) is a mortgage real estate investment trust focused primarily on U.S. residential mortgage assets. The company invests in mortgage loans and mortgage-related securities, seeking to generate income from the underlying loans and related financing activities. Its investments may include residential whole loans, mortgage-backed securities and mortgage servicing rights. These assets expose the company to factors such as borrower credit performance, interest rates and conditions in the U.S. housing market.