AG Mortgage Investment Trust (NYSE:MITT) Earns Market Outperform Rating from JMP Securities

AG Mortgage Investment Trust (NYSE:MITT)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $8.50 price objective on the real estate investment trust’s stock. JMP Securities’ price objective points to a potential upside of 31.48% from the company’s current price.

Separately, StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

AG Mortgage Investment Trust Price Performance

NYSE MITT traded up $0.04 during trading hours on Thursday, reaching $6.47. 21,130 shares of the company’s stock traded hands, compared to its average volume of 265,400. AG Mortgage Investment Trust has a 52-week low of $5.44 and a 52-week high of $7.95. The firm has a 50-day simple moving average of $6.78 and a 200 day simple moving average of $7.11. The firm has a market cap of $190.78 million, a PE ratio of 2.83 and a beta of 1.99.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in MITT. Rhumbline Advisers boosted its holdings in shares of AG Mortgage Investment Trust by 5,557.2% during the 2nd quarter. Rhumbline Advisers now owns 39,770 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 39,067 shares during the last quarter. Renaissance Technologies LLC lifted its position in AG Mortgage Investment Trust by 34.6% during the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after purchasing an additional 143,799 shares during the period. Marshall Wace LLP boosted its holdings in AG Mortgage Investment Trust by 32.0% in the second quarter. Marshall Wace LLP now owns 91,416 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 22,143 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in AG Mortgage Investment Trust in the 2nd quarter worth approximately $72,000. Finally, Algert Global LLC purchased a new stake in AG Mortgage Investment Trust during the 2nd quarter valued at $81,000. 27.32% of the stock is currently owned by hedge funds and other 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.