AG Mortgage Investment Trust, Inc. (NYSE:MITT) Stock Has Average Target Price of $8.92

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.67.

A number of analysts have recently commented on MITT shares. Weiss Ratings cut shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. JonesTrading decreased their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Wednesday, June 17th. Finally, Piper Sandler lowered their price objective on AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $5.63 on Friday. The company’s fifty day moving average price is $6.46 and its 200 day moving average price is $7.27. AG Mortgage Investment Trust has a 1 year low of $5.50 and a 1 year high of $9.27. The stock has a market capitalization of $179.21 million, a P/E ratio of 7.61 and a beta of 1.74.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. Sell-side analysts predict that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 17.0%. The ex-dividend date is Wednesday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 129.73%.

Institutional Trading of AG Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in AG Mortgage Investment Trust by 13.7% in the 1st quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 4,279 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AG Mortgage Investment Trust by 31.5% during the second quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 6,444 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AG Mortgage Investment Trust by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock worth $1,470,000 after buying an additional 7,770 shares in the last quarter. Bank of America Corp DE raised its position in shares of AG Mortgage Investment Trust by 23.0% in the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 7,968 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of AG Mortgage Investment Trust by 3.5% in the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after buying an additional 10,255 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

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.