AG Mortgage Investment Trust, Inc. (NYSE:MITT) Plans Quarterly Dividend of $0.23

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, December 16th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.23 per share by the real estate investment trust on Friday, January 30th. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date is Wednesday, December 31st. This is a 9.5% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21.

AG Mortgage Investment Trust has decreased its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a dividend payout ratio of 77.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 74.3%.

AG Mortgage Investment Trust Stock Up 1.6%

NYSE MITT traded up $0.13 during trading on Tuesday, hitting $8.56. The company’s stock had a trading volume of 422,579 shares, compared to its average volume of 208,235. The firm has a 50 day moving average price of $7.67 and a 200 day moving average price of $7.59. The firm has a market cap of $271.82 million, a P/E ratio of 9.21 and a beta of 1.63. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $8.68.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share for the quarter. The company had revenue of $11.49 million during the quarter. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%. On average, equities analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in AG Mortgage Investment Trust by 28.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 85,792 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 18,875 shares during the period. Invesco Ltd. raised its holdings in shares of AG Mortgage Investment Trust by 25.3% in the 1st quarter. Invesco Ltd. now owns 103,132 shares of the real estate investment trust’s stock worth $753,000 after buying an additional 20,847 shares in the last quarter. Nuveen LLC bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $378,000. AlphaQuest LLC acquired a new stake in AG Mortgage Investment Trust in the 1st quarter valued at $168,000. Finally, Ieq Capital LLC bought a new stake in AG Mortgage Investment Trust in the first quarter valued at $927,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

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.