AG Mortgage Investment Trust’s (MITT) “Buy” Rating Reaffirmed at Jonestrading

Jonestrading reaffirmed their buy rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $8.00 target price on the real estate investment trust’s stock.

MITT has been the topic of several other reports. JMP Securities reiterated a market outperform rating and issued a $7.00 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, April 18th. Keefe, Bruyette & Woods increased their price target on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a market perform rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust currently has a consensus rating of Moderate Buy and an average target price of $7.25.

AG Mortgage Investment Trust Stock Performance

MITT stock opened at $6.74 on Friday. The company’s 50 day moving average price is $5.89 and its 200 day moving average price is $5.85. AG Mortgage Investment Trust has a fifty-two week low of $4.82 and a fifty-two week high of $6.89. The firm has a market capitalization of $198.49 million, a price-to-earnings ratio of 3.87 and a beta of 1.98.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.68%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 41.38%.

Insider Transactions at AG Mortgage Investment Trust

In other AG Mortgage Investment Trust news, CEO Thomas Durkin bought 50,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the transaction, the chief executive officer now owns 372,832 shares in the company, valued at approximately $2,281,731.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently modified their holdings of MITT. Nisa Investment Advisors LLC lifted its holdings in shares of AG Mortgage Investment Trust by 37.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 2,718 shares during the period. Naviter Wealth LLC acquired a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $83,000. Barclays PLC acquired a new stake in shares of AG Mortgage Investment Trust during the third quarter worth $86,000. Allworth Financial LP acquired a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $87,000. Finally, Napa Wealth Management acquired a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $96,000. 27.32% of the stock is owned by institutional investors and hedge funds.

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.