AG Mortgage Investment Trust, Inc. (NYSE:MITT) to Issue Quarterly Dividend of $0.24

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, June 16th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date is Tuesday, June 30th.

AG Mortgage Investment Trust has raised its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a payout ratio of 88.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect AG Mortgage Investment Trust to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 77.4%.

AG Mortgage Investment Trust Trading Up 1.2%

Shares of NYSE:MITT opened at $7.92 on Wednesday. AG Mortgage Investment Trust has a 1 year low of $6.86 and a 1 year high of $9.27. The firm has a market capitalization of $251.70 million, a price-to-earnings ratio of 19.79 and a beta of 1.63. The company has a debt-to-equity ratio of 23.76, a current ratio of 10.33 and a quick ratio of 10.33. The business’s 50 day moving average price is $7.79 and its 200-day moving average price is $8.13.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%.The company had revenue of $6.47 million for the quarter, compared to analyst estimates of $21.97 million. On average, equities research analysts forecast that AG Mortgage Investment Trust will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of MITT. Angelo Gordon & CO. L.P. increased its position in shares of AG Mortgage Investment Trust by 703.3% during the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock worth $16,768,000 after purchasing an additional 2,027,676 shares during the last quarter. Millennium Management LLC acquired a new position in AG Mortgage Investment Trust in the 4th quarter valued at about $2,002,000. Arrowstreet Capital Limited Partnership grew its position in 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 acquiring an additional 71,868 shares in the last quarter. Hsbc Holdings PLC acquired a new position in AG Mortgage Investment Trust in the 1st quarter valued at about $359,000. Finally, Jane Street Group LLC acquired a new position in AG Mortgage Investment Trust in the 4th quarter valued at about $421,000. 27.32% of the stock is owned by institutional investors and hedge funds.

About AG Mortgage Investment Trust

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).