Piper Sandler Issues Pessimistic Forecast for AG Mortgage Investment Trust (NYSE:MITT) Stock Price

AG Mortgage Investment Trust (NYSE:MITT) had its target price lowered by analysts at Piper Sandler from $9.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target would suggest a potential upside of 41.97% from the stock’s previous close.

A number of other brokerages also recently issued reports on MITT. JonesTrading cut their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered AG Mortgage Investment Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 14th. Finally, BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock traded down $0.06 during trading hours on Friday, hitting $5.63. The company’s stock had a trading volume of 128,004 shares, compared to its average volume of 260,063. The company has a market cap of $179.19 million, a PE ratio of 7.61 and a beta of 1.74. The business has a 50 day moving average price of $6.49 and a two-hundred day moving average price of $7.28. AG Mortgage Investment Trust has a 12-month low of $5.50 and a 12-month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. The firm had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $26.13 million. As a group, research analysts anticipate that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of MITT. Renaissance Technologies LLC increased its holdings in AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 10,255 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in AG Mortgage Investment Trust by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 7,770 shares in the last quarter. Odyssean LLC lifted its holdings in AG Mortgage Investment Trust by 220.2% in the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock worth $802,000 after buying an additional 69,639 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of AG Mortgage Investment Trust by 544.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 71,868 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of AG Mortgage Investment Trust during the first quarter worth about $359,000. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.