AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.23 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, December 16th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.23 per share by the real estate investment trust on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 10.5%. The ex-dividend date is Wednesday, December 31st. This is a 9.5% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21.

AG Mortgage Investment Trust has decreased its dividend by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 2 years. AG Mortgage Investment Trust has a dividend payout ratio of 77.1% indicating that 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 $1.13 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 74.3%.

AG Mortgage Investment Trust Stock Up 4.0%

Shares of NYSE:MITT opened at $8.77 on Wednesday. The firm has a market capitalization of $278.26 million, a PE ratio of 9.23 and a beta of 1.63. The company has a 50-day moving average price of $7.70 and a two-hundred day moving average price of $7.60. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $8.68.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 EPS for the quarter. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. The company had revenue of $11.49 million during the quarter. Analysts anticipate that AG Mortgage Investment Trust will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MITT shares. Jones Trading reiterated a “buy” rating and set a $8.50 price target on shares of AG Mortgage Investment Trust in a research report on Tuesday, November 4th. UBS Group upped their target price on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. Zacks Research upgraded AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.60.

About AG Mortgage Investment Trust

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.