AG Mortgage Investment Trust (NYSE:MITT) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.67 and traded as high as $8.99. AG Mortgage Investment Trust shares last traded at $8.87, with a volume of 154,369 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MITT. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up from $9.00) on shares of AG Mortgage Investment Trust in a research report on Monday. Zacks Research raised AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods raised their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. UBS Group boosted their price target on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Jones Trading reaffirmed a “buy” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

AG Mortgage Investment Trust Price Performance

The stock has a market cap of $281.53 million, a price-to-earnings ratio of 9.54 and a beta of 1.63. The stock’s 50-day moving average is $7.95 and its 200-day moving average is $7.67.

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

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 10.4%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s dividend payout ratio is 90.32%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. CWM LLC grew its holdings in AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,450 shares during the period. BNP Paribas Financial Markets raised its stake in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares during the period. Strs Ohio acquired a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at $39,000. Russell Investments Group Ltd. grew its stake in shares of AG Mortgage Investment Trust by 103.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of AG Mortgage Investment Trust by 258.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 6,460 shares during the last quarter. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company Profile

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).