AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.20 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, March 17th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a dividend payout ratio of 75.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 70.8%.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock opened at $7.48 on Friday. The stock’s fifty day moving average is $7.22 and its 200 day moving average is $7.14. The stock has a market cap of $221.70 million, a P/E ratio of 3.28 and a beta of 2.05. AG Mortgage Investment Trust has a one year low of $5.44 and a one year high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. The firm had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. Analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading raised their price target on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

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.