Keefe, Bruyette & Woods Lowers AG Mortgage Investment Trust (NYSE:MITT) Price Target to $8.50

AG Mortgage Investment Trust (NYSE:MITT) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $9.00 to $8.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 8.61% from the company’s previous close.

Several other analysts also recently weighed in on the company. JonesTrading increased their target price on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Citizens Jmp increased their target price 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. Citigroup restated an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Friday, April 17th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.17.

AG Mortgage Investment Trust Price Performance

Shares of NYSE:MITT opened at $7.83 on Friday. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $8.08. AG Mortgage Investment Trust has a twelve month low of $6.33 and a twelve month high of $9.27. The company has a market cap of $248.40 million, a price-to-earnings ratio of 19.57 and a beta of 1.66. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 14.93% and a net margin of 6.71%.The firm had revenue of $6.47 million during the quarter, compared to the consensus estimate of $21.97 million. Research analysts predict that AG Mortgage Investment Trust will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in AG Mortgage Investment Trust by 5.9% in the 4th quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 1,732 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in AG Mortgage Investment Trust by 32.9% in the 4th quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 2,334 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in AG Mortgage Investment Trust by 103.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 2,756 shares in the last quarter. LPL Financial LLC raised its holdings in AG Mortgage Investment Trust by 7.8% in the 4th quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 3,068 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in AG Mortgage Investment Trust by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,524 shares of the real estate investment trust’s stock valued at $720,000 after acquiring an additional 3,249 shares in the last quarter. Institutional investors and hedge funds 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).