AG Mortgage Investment Trust (NYSE:MITT) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

AG Mortgage Investment Trust (NYSE:MITT) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), FiscalAI reports. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.

AG Mortgage Investment Trust Price Performance

Shares of NYSE MITT opened at $8.60 on Tuesday. AG Mortgage Investment Trust has a 1-year low of $5.63 and a 1-year high of $9.27. The business’s 50 day moving average is $8.70 and its two-hundred day moving average is $7.96. The stock has a market capitalization of $272.81 million, a P/E ratio of 9.24 and a beta of 1.69.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a $0.23 dividend. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 10.7%. The ex-dividend date was Wednesday, December 31st. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 98.92%.

Wall Street Analysts Forecast Growth

MITT has been the subject of several research analyst reports. Jones Trading reiterated a “buy” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a research report on Tuesday, November 4th. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a report on Thursday, January 22nd. Citizens Jmp increased their price target on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up previously from $9.00) on shares of AG Mortgage Investment Trust in a research note on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $9.17.

Institutional Trading of AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of MITT. Jane Street Group LLC bought a new stake in AG Mortgage Investment Trust in the fourth quarter worth $421,000. Goldman Sachs Group Inc. lifted its holdings in shares of AG Mortgage Investment Trust by 33.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 152,939 shares of the real estate investment trust’s stock worth $1,303,000 after acquiring an additional 38,189 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in AG Mortgage Investment Trust by 127.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 66,607 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 37,328 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in AG Mortgage Investment Trust by 163.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 56,420 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 34,966 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AG Mortgage Investment Trust by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 686,894 shares of the real estate investment trust’s stock valued at $5,187,000 after acquiring an additional 26,315 shares during the period. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

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).