AG Mortgage Investment Trust (NYSE:MITT) Price Target Lowered to $8.00 at Jones Trading

AG Mortgage Investment Trust (NYSE:MITT) had its price target decreased by investment analysts at Jones Trading from $8.50 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jones Trading’s price objective indicates a potential upside of 30.51% from the company’s previous close.

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.20.

AG Mortgage Investment Trust Price Performance

Shares of NYSE:MITT opened at $6.13 on Thursday. AG Mortgage Investment Trust has a 52-week low of $5.45 and a 52-week high of $7.95. The stock has a market cap of $181.81 million, a price-to-earnings ratio of 2.69 and a beta of 1.46. The business has a 50-day moving average price of $7.15 and a 200-day moving average price of $7.01.

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

Institutional Trading of AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of AG Mortgage Investment Trust by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 663,025 shares of the real estate investment trust’s stock worth $4,980,000 after acquiring an additional 36,081 shares in the last quarter. Prudential Financial Inc. boosted its position in AG Mortgage Investment Trust by 509.1% during the fourth quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 76,100 shares in the last quarter. Barclays PLC grew its holdings in AG Mortgage Investment Trust by 54.7% in the third quarter. Barclays PLC now owns 48,778 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 17,243 shares during the period. State Street Corp grew its holdings in AG Mortgage Investment Trust by 2.2% in the third quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock valued at $2,655,000 after purchasing an additional 7,587 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of AG Mortgage Investment Trust in the third quarter valued at approximately $94,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.