AG Mortgage Investment Trust (NYSE:MITT) Earns Buy Rating from Jones Trading

AG Mortgage Investment Trust (NYSE:MITT)‘s stock had its “buy” rating reiterated by research analysts at Jones Trading in a report released on Tuesday,Benzinga reports. They currently have a $8.50 target price on the real estate investment trust’s stock. Jones Trading’s target price would suggest a potential upside of 11.62% from the company’s previous close.

A number of other brokerages also recently issued reports on MITT. Piper Sandler set a $8.50 price objective on shares of AG Mortgage Investment Trust and gave the company an “overweight” rating in a research report on Monday, August 4th. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods increased their price objective on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a “market perform” rating in a research report on Thursday, July 10th. UBS Group increased their price objective on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.60.

AG Mortgage Investment Trust Stock Performance

MITT traded up $0.47 during midday trading on Tuesday, reaching $7.62. 312,079 shares of the company were exchanged, compared to its average volume of 212,214. The company’s fifty day moving average price is $7.44 and its 200 day moving average price is $7.33. The company has a market cap of $241.62 million, a price-to-earnings ratio of 8.85 and a beta of 1.68. AG Mortgage Investment Trust has a one year low of $5.63 and a one year high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 EPS for the quarter. AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The business had revenue of $11.49 million for the quarter. As a group, sell-side analysts anticipate that AG Mortgage Investment Trust will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Matthew Jozoff purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the acquisition, the director directly owned 79,355 shares of the company’s stock, valued at $583,259.25. This trade represents a 5.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Bailard Inc. bought a new stake in AG Mortgage Investment Trust during the 1st quarter worth about $553,000. Charles Schwab Investment Management Inc. boosted its position in AG Mortgage Investment Trust by 28.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 85,792 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 18,875 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of AG Mortgage Investment Trust by 2.6% in the 1st quarter. Wolverine Asset Management LLC now owns 200,534 shares of the real estate investment trust’s stock valued at $1,464,000 after buying an additional 5,167 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of AG Mortgage Investment Trust by 20.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 195,532 shares of the real estate investment trust’s stock valued at $1,427,000 after buying an additional 33,480 shares during the last quarter. Finally, Invesco Ltd. raised its stake in AG Mortgage Investment Trust by 25.3% in the 1st quarter. Invesco Ltd. now owns 103,132 shares of the real estate investment trust’s stock valued at $753,000 after acquiring an additional 20,847 shares during the period. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.