Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $8.92

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.9167.

MITT has been the topic of a number of research reports. Piper Sandler decreased their price target on AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, July 15th. JonesTrading cut their price objective on AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, June 17th.

AG Mortgage Investment Trust Stock Down 0.8%

MITT stock opened at $6.54 on Tuesday. The firm has a market cap of $208.13 million, a PE ratio of 8.84 and a beta of 1.64. The company has a debt-to-equity ratio of 22.56, a quick ratio of 10.33 and a current ratio of 10.33. The firm’s 50 day moving average price is $7.04 and its 200-day moving average price is $7.52. AG Mortgage Investment Trust has a one year low of $5.93 and a one year high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $26.13 million. AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. On average, equities research analysts anticipate that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 14.7%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 129.73%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of AG Mortgage Investment Trust by 31.5% during the second quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 6,444 shares during the period. California State Teachers Retirement System boosted its holdings in AG Mortgage Investment Trust by 105.2% in the second quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,628 shares during the period. Odyssean LLC grew its stake in AG Mortgage Investment Trust by 220.2% during the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock worth $802,000 after purchasing an additional 69,639 shares in the last quarter. Bank of America Corp DE grew its stake in AG Mortgage Investment Trust by 23.0% during the 1st quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock worth $311,000 after purchasing an additional 7,968 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in AG Mortgage Investment Trust by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 10,255 shares during the period. 27.32% of the stock is owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

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).