AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a yield of 9.64%. The ex-dividend date is Monday, September 30th.
AG Mortgage Investment Trust has a dividend payout ratio of 72.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.
AG Mortgage Investment Trust Stock Up 0.1 %
NYSE:MITT opened at $7.88 on Wednesday. AG Mortgage Investment Trust has a twelve month low of $4.82 and a twelve month high of $7.94. The stock’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $6.65. The firm has a market capitalization of $232.26 million, a PE ratio of 4.52 and a beta of 2.05.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MITT. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JMP Securities increased their target price on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.00.
Get Our Latest Research Report on AG Mortgage Investment Trust
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.
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