AG Mortgage Investment Trust (NYSE:MITT) Issues Earnings Results

AG Mortgage Investment Trust (NYSE:MITT) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), FiscalAI reports. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%.

AG Mortgage Investment Trust Price Performance

Shares of AG Mortgage Investment Trust stock opened at $8.60 on Tuesday. AG Mortgage Investment Trust has a 1-year low of $5.63 and a 1-year high of $9.27. The company’s fifty day simple moving average is $8.70 and its 200-day simple moving average is $7.96. The stock has a market capitalization of $272.81 million, a PE ratio of 9.24 and a beta of 1.69.

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.23 dividend. The ex-dividend date was Wednesday, December 31st. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 10.7%. AG Mortgage Investment Trust’s payout ratio is 98.92%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter valued at approximately $39,000. BNP Paribas Financial Markets lifted its holdings in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,614 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of AG Mortgage Investment Trust by 258.4% in the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of AG Mortgage Investment Trust in the second quarter worth $79,000. Institutional investors own 27.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on MITT shares. Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Citizens Jmp raised their price target on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.17.

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).