Raymond James Financial Services Advisors Inc. Makes New Investment in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Raymond James Financial Services Advisors Inc. purchased a new position in AG Mortgage Investment Trust, Inc. (NYSE:MITT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 36,364 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Several other large investors also recently made changes to their positions in MITT. Barclays PLC bought a new position in shares of AG Mortgage Investment Trust in the 3rd quarter valued at approximately $86,000. Denali Advisors LLC bought a new position in shares of AG Mortgage Investment Trust in the third quarter valued at approximately $104,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AG Mortgage Investment Trust in the third quarter worth $126,000. GSA Capital Partners LLP boosted its holdings in shares of AG Mortgage Investment Trust by 6.5% during the 3rd quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust’s stock worth $832,000 after buying an additional 9,092 shares during the period. Finally, Beach Point Capital Management LP boosted its holdings in shares of AG Mortgage Investment Trust by 68.0% during the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after buying an additional 232,895 shares during the period. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Performance

MITT opened at $5.68 on Wednesday. The firm has a market cap of $167.29 million, a price-to-earnings ratio of 3.62 and a beta of 1.98. The firm’s 50-day simple moving average is $5.93 and its 200-day simple moving average is $5.81. AG Mortgage Investment Trust, Inc. has a twelve month low of $4.82 and a twelve month high of $6.89.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.68%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, March 27th. AG Mortgage Investment Trust’s dividend payout ratio is currently 45.86%.

Analyst Ratings Changes

Several research firms have recently weighed in on MITT. JMP Securities reissued a “market outperform” rating and issued a $7.00 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, April 18th. Keefe, Bruyette & Woods increased their price target on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Insider Transactions at AG Mortgage Investment Trust

In other AG Mortgage Investment Trust news, CEO Thomas Durkin purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the transaction, the chief executive officer now directly owns 372,832 shares in the company, valued at $2,281,731.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

AG Mortgage Investment Trust 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.