AG Mortgage Investment Trust (NYSE:MITT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Other equities research analysts have also issued reports about the company. JMP Securities reiterated a market outperform rating and set a $7.00 price target on shares of AG Mortgage Investment Trust in a report on Thursday, April 18th. Keefe, Bruyette & Woods boosted their target price on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a market perform rating in a research report on Thursday, February 29th. Finally, Jonestrading restated a buy rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AG Mortgage Investment Trust has an average rating of Moderate Buy and an average price target of $7.38.

AG Mortgage Investment Trust Trading Down 0.7 %

Shares of NYSE:MITT opened at $6.75 on Monday. The firm has a market cap of $198.81 million, a price-to-earnings ratio of 3.88 and a beta of 1.98. AG Mortgage Investment Trust has a 1 year low of $4.82 and a 1 year high of $6.91. The business has a fifty day simple moving average of $5.92 and a 200 day simple moving average of $5.87.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 10.67%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. AG Mortgage Investment Trust’s dividend payout ratio is presently 41.38%.

Insider Buying and Selling at AG Mortgage Investment Trust

In other news, CEO Thomas Durkin acquired 50,000 shares of AG Mortgage Investment Trust stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the purchase, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the business. Beach Point Capital Management LP grew its holdings in AG Mortgage Investment Trust by 68.0% in the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock valued at $3,653,000 after buying an additional 232,895 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth about $704,000. Wolverine Asset Management LLC raised its position in shares of AG Mortgage Investment Trust by 64.1% during the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 51,709 shares during the last quarter. Jump Financial LLC bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at about $280,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in AG Mortgage Investment Trust during the fourth quarter worth about $231,000. 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.