Citizens Jmp Has Lowered Expectations for AG Mortgage Investment Trust (NYSE:MITT) Stock Price

AG Mortgage Investment Trust (NYSE:MITT) had its price objective dropped by equities researchers at Citizens Jmp from $9.25 to $8.50 in a report released on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price target suggests a potential upside of 60.23% from the stock’s previous close.

Other research analysts have also issued reports about the company. Citigroup restated a “market outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday. BTIG Research upgraded shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Wednesday, June 17th. 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. Weiss Ratings lowered shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, JonesTrading dropped their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of $8.54.

AG Mortgage Investment Trust Stock Down 3.2%

Shares of MITT opened at $5.30 on Thursday. The stock’s 50-day moving average price is $6.36 and its 200 day moving average price is $7.22. The firm has a market capitalization of $168.70 million, a price-to-earnings ratio of 7.17 and a beta of 1.74. AG Mortgage Investment Trust has a 12-month low of $5.27 and a 12-month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data 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). AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. The firm had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. Equities research analysts expect that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

Institutional Trading of AG Mortgage Investment Trust

A number of large investors have recently bought and sold shares of MITT. Arrowstreet Capital Limited Partnership boosted its stake in shares of AG Mortgage Investment Trust by 544.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 71,868 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AG Mortgage Investment Trust by 31.5% in the 2nd quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 6,444 shares during the last quarter. Odyssean LLC grew its holdings in shares of AG Mortgage Investment Trust by 220.2% in the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock worth $802,000 after purchasing an additional 69,639 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of AG Mortgage Investment Trust by 23.0% in the 1st quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 7,968 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 10,255 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.