AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.24 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, March 16th. Investors of record on Tuesday, March 31st will be given a dividend of 0.24 per share by the real estate investment trust on Thursday, April 30th. This represents a c) annualized dividend and a yield of 12.6%. The ex-dividend date is Tuesday, March 31st. This is a 4.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23.

AG Mortgage Investment Trust has raised its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a payout ratio of 84.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 81.4%.

AG Mortgage Investment Trust Stock Up 2.4%

AG Mortgage Investment Trust stock opened at $7.62 on Tuesday. The firm has a 50 day simple moving average of $8.43 and a 200 day simple moving average of $8.05. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 21.38. AG Mortgage Investment Trust has a 1-year low of $5.63 and a 1-year high of $9.27. The firm has a market capitalization of $241.88 million, a price-to-earnings ratio of 8.66 and a beta of 1.67.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%.The company had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.16 million. On average, analysts predict that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

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).