Allworth Financial LP Acquires Shares of 13,664 AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Allworth Financial LP acquired a new stake in AG Mortgage Investment Trust, Inc. (NYSE:MITT) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 13,664 shares of the real estate investment trust’s stock, valued at approximately $87,000.

Other hedge funds also recently bought and sold shares of the company. Beach Point Capital Management LP grew its position in AG Mortgage Investment Trust by 68.0% in the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock valued at $3,653,000 after acquiring an additional 232,895 shares during the last quarter. GSA Capital Partners LLP grew its position in AG Mortgage Investment Trust by 6.5% in the 3rd quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust’s stock valued at $832,000 after acquiring an additional 9,092 shares during the last quarter. Barclays PLC bought a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $86,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $126,000. Finally, Denali Advisors LLC purchased a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter worth $104,000. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Trading Down 1.6 %

Shares of MITT stock opened at $5.64 on Friday. AG Mortgage Investment Trust, Inc. has a twelve month low of $4.82 and a twelve month high of $6.89. The stock has a market capitalization of $166.10 million, a price-to-earnings ratio of 3.59 and a beta of 1.98. The stock has a fifty day simple moving average of $6.01 and a two-hundred day simple moving average of $5.80.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 12.77%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, March 27th. AG Mortgage Investment Trust’s dividend payout ratio is currently 45.86%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Insiders Place Their Bets

In related news, CEO Thomas Durkin acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the purchase, the chief executive officer now directly owns 372,832 shares of the company’s stock, valued at approximately $2,281,731.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.

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.