AG Mortgage Investment Trust, Inc. (NYSE:MITT) Stock Has Consensus Target Price of $8.54 According to Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.54.

Several analysts recently issued reports on MITT shares. Citizens Jmp dropped their price objective on shares of AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating for the company in a research note on Thursday, October 15th. Weiss Ratings cut shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. JonesTrading reduced their price target on AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Citigroup reissued a “market outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, October 15th. Finally, Piper Sandler decreased their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th.

AG Mortgage Investment Trust Stock Performance

MITT stock opened at $5.60 on Wednesday. AG Mortgage Investment Trust has a 52 week low of $5.20 and a 52 week high of $9.27. The company’s 50-day simple moving average is $6.06 and its 200 day simple moving average is $7.38. The company has a market capitalization of $178.08 million, a PE ratio of 7.57 and a beta of 1.78.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. On average, analysts forecast that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 17.1%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 129.73%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of large investors have recently added to or reduced their stakes in MITT. NewEdge Advisors LLC lifted its stake in AG Mortgage Investment Trust by 31.5% during the 2nd quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 6,444 shares in the last quarter. Odyssean LLC boosted its position in shares of AG Mortgage Investment Trust by 220.2% during the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after purchasing an additional 69,639 shares in the last quarter. Bank of America Corp DE raised its position in AG Mortgage Investment Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after acquiring an additional 7,968 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of AG Mortgage Investment Trust by 3.5% in the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after buying an additional 10,255 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of AG Mortgage Investment Trust by 544.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 71,868 shares during the period. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other housing-related investments.

AG Mortgage Investment Trust’s investment activities are focused mainly on the U.S. residential mortgage market. Its portfolio may include loans and securities backed by a range of residential properties and borrowers, providing exposure to different segments of the housing and mortgage finance sectors.

Founded in 2011, the company is externally managed by AG REIT Management, LLC, an affiliate of Angelo Gordon, an alternative investment firm.