AG Mortgage Investment Trust (NYSE:MITT) Announces Earnings Results

AG Mortgage Investment Trust (NYSE:MITT) issued its earnings results on Tuesday. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07), Zacks reports. AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%.

AG Mortgage Investment Trust Trading Down 2.9 %

MITT traded down $0.20 on Tuesday, hitting $6.44. 67,999 shares of the stock traded hands, compared to its average volume of 241,132. The business has a fifty day moving average price of $6.93 and a two-hundred day moving average price of $6.92. The firm has a market capitalization of $190.86 million, a PE ratio of 2.82 and a beta of 1.46. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $7.95.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 12.43%. The ex-dividend date was Monday, March 31st. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 65.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MITT shares. Jones Trading reduced their price objective on shares of AG Mortgage Investment Trust from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.