AG Mortgage Investment Trust (NYSE:MITT) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of AG Mortgage Investment Trust (NYSE:MITT) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $9.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of AG Mortgage Investment Trust from a hold rating to a buy rating in a report on Monday, May 6th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. JMP Securities increased their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a market outperform rating in a report on Friday, July 19th. Finally, Jonestrading reissued a buy rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $8.00.

AG Mortgage Investment Trust Stock Down 1.6 %

NYSE MITT opened at $7.62 on Friday. The company has a market cap of $224.56 million, a PE ratio of 4.38 and a beta of 2.06. AG Mortgage Investment Trust has a 52 week low of $4.82 and a 52 week high of $7.79. The firm’s 50-day simple moving average is $6.94 and its two-hundred day simple moving average is $6.40.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.97%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, June 28th. AG Mortgage Investment Trust’s dividend payout ratio is 43.68%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of AG Mortgage Investment Trust by 37.0% in 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 last quarter. Naviter Wealth LLC bought a new position in AG Mortgage Investment Trust during the fourth quarter valued at approximately $83,000. Allworth Financial LP bought a new position in AG Mortgage Investment Trust during the fourth quarter valued at approximately $87,000. Napa Wealth Management bought a new position in AG Mortgage Investment Trust during the fourth quarter valued at approximately $96,000. Finally, Transcend Capital Advisors LLC grew its position in AG Mortgage Investment Trust by 12.6% during the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,500 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

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.