AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.00 Consensus Target Price from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Piper Sandler started coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price objective on the stock. Finally, JMP Securities boosted their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th.

AG Mortgage Investment Trust Stock Performance

Shares of NYSE:MITT opened at $7.78 on Friday. The stock’s 50-day simple moving average is $7.28 and its two-hundred day simple moving average is $6.67. The stock has a market capitalization of $229.31 million, a price-to-earnings ratio of 4.47 and a beta of 2.05. AG Mortgage Investment Trust has a 52-week low of $4.82 and a 52-week high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The business had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. During the same period in the previous year, the business posted $0.08 EPS. As a group, equities analysts forecast that AG Mortgage Investment Trust will post 0.82 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date of this dividend is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors have recently made changes to their positions in MITT. The Manufacturers Life Insurance Company bought a new position in AG Mortgage Investment Trust in the 2nd quarter worth approximately $72,000. Algert Global LLC purchased a new position in shares of AG Mortgage Investment Trust in the second quarter worth $81,000. Napa Wealth Management bought a new position in shares of AG Mortgage Investment Trust during the fourth quarter worth $96,000. Naviter Wealth LLC grew its stake in AG Mortgage Investment Trust by 30.9% during the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in AG Mortgage Investment Trust by 12.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.