AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $8.9286.

A number of brokerages have commented on MITT. JonesTrading reduced their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday. BTIG Research upgraded shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, July 15th. Piper Sandler reduced their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, May 1st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in shares of 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 during the last quarter. Strs Ohio bought a new position in AG Mortgage Investment Trust during the 1st quarter worth approximately $39,000. Kemnay Advisory Services Inc. bought a new position in AG Mortgage Investment Trust during the 4th quarter worth approximately $40,000. Russell Investments Group Ltd. increased its stake in AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in AG Mortgage Investment Trust by 258.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares during the period. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Price Performance

MITT opened at $6.71 on Friday. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76. The stock has a market capitalization of $213.38 million, a P/E ratio of 9.07 and a beta of 1.65. The stock has a 50-day moving average price of $7.53 and a 200-day moving average price of $7.79. AG Mortgage Investment Trust has a 12-month low of $5.93 and a 12-month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $23.39 million for the quarter, compared to analysts’ expectations of $26.13 million. AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.48%. Equities analysts predict that AG Mortgage Investment Trust will post 1.04 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 14.3%. The ex-dividend date was Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio is presently 129.73%.

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).