AG Mortgage Investment Trust (NYSE:MITT) Announces Earnings Results, Misses Expectations By $0.96 EPS

AG Mortgage Investment Trust (NYSE:MITT – Get Rating) released its earnings results on Friday. The real estate investment trust reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.96), Fidelity Earnings reports. AG Mortgage Investment Trust had a net margin of 141.14% and a return on equity of 11.69%.

MITT traded up $0.15 during trading on Friday, hitting $7.96. 317,438 shares of the company’s stock were exchanged, compared to its average volume of 178,734. AG Mortgage Investment Trust has a 1 year low of $7.09 and a 1 year high of $14.85. The stock has a 50 day moving average price of $8.41 and a 200 day moving average price of $9.83. The firm has a market cap of $190.40 million, a P/E ratio of 3.69 and a beta of 1.48.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.84 annualized dividend and a yield of 10.55%. AG Mortgage Investment Trust’s dividend payout ratio is currently 38.89%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in AG Mortgage Investment Trust by 73.3% during the fourth quarter. Bank of America Corp DE now owns 5,491 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 2,323 shares during the period. Wells Fargo & Company MN grew its stake in AG Mortgage Investment Trust by 387.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,816 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 3,828 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of AG Mortgage Investment Trust by 46.5% in the third quarter. Bank of New York Mellon Corp now owns 26,432 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 8,392 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of AG Mortgage Investment Trust in the fourth quarter valued at $342,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of AG Mortgage Investment Trust by 32.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 141,633 shares of the real estate investment trust’s stock valued at $1,452,000 after purchasing an additional 34,530 shares during the period. Institutional investors own 47.99% of the company’s stock.

Separately, StockNews.com assumed coverage on shares of AG Mortgage Investment Trust in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.69.

About AG Mortgage Investment Trust (Get Rating)

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio comprises residential investments, including non-qualifying mortgages loans, government-sponsored entity non-owner occupied loans, re/non-performing loans, land related financing, and agency residential mortgage-backed securities; and commercial investments.

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