AG Mortgage Investment Trust’s (MITT) “Buy” Rating Reiterated at Jones Trading

Jones Trading reissued their buy rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research note released on Tuesday morning,Benzinga reports. Jones Trading currently has a $8.50 target price on the real estate investment trust’s stock.

MITT has been the topic of a number of other research reports. UBS Group increased their target price on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen cut AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods raised their price objective on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a “market perform” rating in a report on Thursday, July 10th. Zacks Research upgraded AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Piper Sandler set a $8.50 price target on shares of AG Mortgage Investment Trust and gave the company an “overweight” rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of $8.60.

AG Mortgage Investment Trust Trading Up 2.0%

Shares of NYSE MITT opened at $7.83 on Tuesday. The business has a 50-day moving average of $7.46 and a 200-day moving average of $7.34. The firm has a market capitalization of $248.57 million, a price-to-earnings ratio of 8.42 and a beta of 1.68. AG Mortgage Investment Trust has a 12 month low of $5.63 and a 12 month high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $11.49 million during the quarter. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 14.08%. On average, analysts predict that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 10.7%. The ex-dividend date was Tuesday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 97.67%.

Insider Buying and Selling

In related news, Director Matthew Jozoff acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $7.35 per share, with a total value of $29,400.00. Following the completion of the purchase, the director owned 79,355 shares in the company, valued at $583,259.25. This trade represents a 5.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management grew its holdings in AG Mortgage Investment Trust by 5.0% in the 3rd quarter. LSV Asset Management now owns 306,280 shares of the real estate investment trust’s stock worth $2,217,000 after acquiring an additional 14,700 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of AG Mortgage Investment Trust in the third quarter worth about $87,000. Penserra Capital Management LLC lifted its holdings in AG Mortgage Investment Trust by 3.5% in the 3rd quarter. Penserra Capital Management LLC now owns 154,757 shares of the real estate investment trust’s stock worth $1,120,000 after buying an additional 5,249 shares during the period. AlphaQuest LLC purchased a new stake in AG Mortgage Investment Trust in the 3rd quarter worth approximately $68,000. Finally, Ritholtz Wealth Management bought a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter worth approximately $100,000. 27.32% of the stock is currently owned by institutional investors.

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.