AG Mortgage Investment Trust (NYSE:MITT) Lowered to Hold at StockNews.com

AG Mortgage Investment Trust (NYSE:MITT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Other equities analysts have also issued research reports about the stock. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. JMP Securities upped their target price on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Jonestrading reissued a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.00.

AG Mortgage Investment Trust Price Performance

NYSE MITT traded down $0.39 during trading hours on Monday, hitting $6.51. 683,081 shares of the company’s stock traded hands, compared to its average volume of 235,571. The company has a market capitalization of $191.85 million, a PE ratio of 3.74 and a beta of 2.06. The firm’s 50-day moving average is $7.00 and its 200-day moving average is $6.43. AG Mortgage Investment Trust has a 52-week low of $4.82 and a 52-week high of $7.86.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 10.05% and a net margin of 20.84%. The business had revenue of $99.82 million for the quarter, compared to analyst estimates of $17.00 million. During the same quarter in the prior year, the company earned $0.08 EPS. Equities research analysts predict that AG Mortgage Investment Trust will post 0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MITT. Nisa Investment Advisors LLC increased its holdings in shares of AG Mortgage Investment Trust by 37.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,718 shares during the last quarter. Naviter Wealth LLC purchased a new position in AG Mortgage Investment Trust in the fourth quarter worth approximately $83,000. Allworth Financial LP acquired a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at $87,000. Napa Wealth Management purchased a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth $96,000. Finally, Transcend Capital Advisors LLC lifted its holdings in AG Mortgage Investment Trust by 12.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,500 shares in the last quarter. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

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.