Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) PT at $9.07

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.0714.

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price objective on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, May 1st. Piper Sandler lowered their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. BTIG Research raised shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th.

AG Mortgage Investment Trust Price Performance

NYSE:MITT opened at $7.22 on Monday. The firm has a market capitalization of $229.75 million, a price-to-earnings ratio of 18.06 and a beta of 1.62. AG Mortgage Investment Trust has a 52-week low of $6.86 and a 52-week high of $9.27. The stock has a fifty day moving average of $7.72 and a 200 day moving average of $7.98. The company has a debt-to-equity ratio of 23.76, a quick ratio of 10.33 and a current ratio of 10.33.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%.The business had revenue of $6.47 million for the quarter, compared to analyst estimates of $21.97 million. On average, research analysts expect that AG Mortgage Investment Trust will post 1.09 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 13.3%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 240.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MITT. Geode Capital Management LLC raised its position in AG Mortgage Investment Trust by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 710,876 shares of the real estate investment trust’s stock valued at $6,059,000 after purchasing an additional 11,707 shares in the last quarter. State Street Corp lifted its stake in AG Mortgage Investment Trust by 2.2% during the fourth quarter. State Street Corp now owns 576,088 shares of the real estate investment trust’s stock worth $5,038,000 after purchasing an additional 12,581 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 10,255 shares in the last quarter. Millennium Management LLC purchased a new position in shares of AG Mortgage Investment Trust in the 4th quarter worth about $2,002,000. Finally, Janney Montgomery Scott LLC increased its position in shares of AG Mortgage Investment Trust by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 7,770 shares during the last quarter. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).