AG Mortgage Investment Trust, Inc. (NYSE:MITT) Plans Quarterly Dividend of $0.20

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 annualized dividend and a yield of 10.65%. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. 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 $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Stock Performance

MITT stock opened at $7.51 on Tuesday. The company has a market capitalization of $222.80 million, a PE ratio of 3.29 and a beta of 2.05. AG Mortgage Investment Trust has a one year low of $5.44 and a one year high of $7.95. The company’s 50 day moving average price is $6.99 and its two-hundred day moving average price is $7.11.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. On average, research analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MITT. Jones Trading boosted their target price on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

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.