AG Mortgage Investment Trust (NYSE:MITT) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.76 and traded as high as $8.67. AG Mortgage Investment Trust shares last traded at $8.65, with a volume of 124,977 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Zacks Research raised AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $9.00) on shares of AG Mortgage Investment Trust in a research report on Monday, December 22nd. Finally, Jones Trading reaffirmed a “buy” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

AG Mortgage Investment Trust Stock Up 1.4%

The stock has a market cap of $278.68 million, a P/E ratio of 9.44 and a beta of 1.65. The firm has a 50 day simple moving average of $8.26 and a 200-day simple moving average of $7.77.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share for the quarter. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The business had revenue of $11.49 million for the quarter. On average, equities analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.92 annualized dividend and a yield of 10.5%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s payout ratio is currently 98.92%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in AG Mortgage Investment Trust by 0.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 168,478 shares of the real estate investment trust’s stock valued at $1,272,000 after buying an additional 1,350 shares during the period. BNP Paribas Financial Markets boosted its position in shares of AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 2,756 shares in the last quarter. CWM LLC increased its stake in AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 3,450 shares during the last quarter. Russell Investments Group Ltd. raised its position 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. Finally, Alliancebernstein L.P. raised its position in AG Mortgage Investment Trust by 23.1% during the third quarter. Alliancebernstein L.P. now owns 20,270 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

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).