AG Mortgage Investment Trust (NYSE:MITT) Stock Gets Price Target Cut from JonesTrading

AG Mortgage Investment Trust (NYSE:MITT) had its price target lowered by JonesTrading from $8.00 to $7.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on 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. Citigroup reissued a “market outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, October 15th. Weiss Ratings downgraded AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Citizens Jmp lowered their target price on shares of AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating on the stock in a research note on Thursday, October 15th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.38.

AG Mortgage Investment Trust Trading Down 10.1%

MITT stock traded down $0.51 during trading on Wednesday, reaching $4.49. 882,009 shares of the stock were exchanged, compared to its average volume of 367,618. The firm’s 50 day moving average is $5.92 and its 200 day moving average is $7.28. The firm has a market cap of $142.62 million, a P/E ratio of -20.39 and a beta of 1.78. AG Mortgage Investment Trust has a twelve month low of $4.43 and a twelve month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. The firm had revenue of $3.03 million for the quarter, compared to the consensus estimate of $16.30 million. As a group, analysts predict that AG Mortgage Investment Trust will post 0.94 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 21.4%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is -436.36%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds have recently modified their holdings of the business. Sigma Planning Corp acquired a new position in AG Mortgage Investment Trust during the first quarter worth $82,000. Ullmann Wealth Partners Group LLC acquired a new position in AG Mortgage Investment Trust in the 3rd quarter valued at about $95,000. NewEdge Advisors LLC purchased a new position in AG Mortgage Investment Trust during the 1st quarter worth $149,000. Cetera Investment Advisers boosted its stake in shares of AG Mortgage Investment Trust by 13.7% in the first quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 4,279 shares in the last quarter. Finally, Bank of America Corp DE grew 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 worth $311,000 after buying an additional 7,968 shares during the period. 27.32% of the stock is currently owned by institutional investors and hedge funds.

About AG Mortgage Investment Trust

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.