AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.00.

Several equities analysts have weighed in on the stock. StockNews.com cut shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. JMP Securities upped their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler started coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price objective for the company.

AG Mortgage Investment Trust Trading Up 1.2 %

Shares of MITT opened at $7.43 on Wednesday. The business’s 50-day moving average price is $7.30 and its 200 day moving average price is $6.86. The stock has a market capitalization of $218.99 million, a P/E ratio of 4.27 and a beta of 2.05. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The firm had revenue of $99.82 million during the quarter, compared to analyst estimates of $17.00 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, research analysts predict that AG Mortgage Investment Trust will post 0.84 earnings per share for the current year.

AG Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 10.23%. AG Mortgage Investment Trust’s dividend payout ratio is 43.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MITT. LSV Asset Management purchased a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter worth about $1,110,000. Renaissance Technologies LLC increased its holdings in AG Mortgage Investment Trust by 34.6% in the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock worth $3,715,000 after buying an additional 143,799 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. Bank of New York Mellon Corp lifted its stake in AG Mortgage Investment Trust by 105.4% in the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after acquiring an additional 84,037 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in AG Mortgage Investment Trust in the second quarter worth approximately $291,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.