Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) PT at $8.20

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $8.20.

Several research analysts have issued reports on the company. Jones Trading dropped their target price on AG Mortgage Investment Trust from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. JMP Securities reaffirmed a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd.

AG Mortgage Investment Trust Trading Up 1.9 %

AG Mortgage Investment Trust stock opened at $6.43 on Friday. The firm has a 50-day moving average of $7.01 and a 200-day moving average of $6.95. The firm has a market cap of $190.71 million, a P/E ratio of 2.82 and a beta of 1.46. AG Mortgage Investment Trust has a 1-year low of $5.52 and a 1-year high of $7.95.

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

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 12.44%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 31st. AG Mortgage Investment Trust’s dividend payout ratio is presently 65.04%.

Institutional Trading of AG Mortgage Investment Trust

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of AG Mortgage Investment Trust by 98.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 2,739 shares during the last quarter. Quarry LP raised its position in shares of AG Mortgage Investment Trust by 158.9% in the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 3,914 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of AG Mortgage Investment Trust by 43.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 2,231 shares during the last quarter. LPL Financial LLC purchased a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $70,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $70,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company Profile

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.