AG Mortgage Investment Trust (NYSE:MITT) Price Target Raised to $7.50

AG Mortgage Investment Trust (NYSE:MITT) had its price objective lifted by stock analysts at Keefe, Bruyette & Woods from $7.00 to $7.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 11.11% from the stock’s previous close.

Other analysts also recently issued research reports about the company. StockNews.com raised AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday. Jonestrading reaffirmed a “buy” rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. Finally, JMP Securities reiterated 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AG Mortgage Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of $7.38.

AG Mortgage Investment Trust Stock Performance

Shares of NYSE:MITT opened at $6.75 on Tuesday. The company has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $5.87. The company has a market capitalization of $198.81 million, a PE ratio of 3.88 and a beta of 1.98. AG Mortgage Investment Trust has a 52 week low of $4.82 and a 52 week high of $6.91.

Insider Buying and Selling

In other news, CEO Thomas Durkin bought 50,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $6.12 per share, for a total transaction of $306,000.00. Following the purchase, the chief executive officer now owns 372,832 shares of the company’s stock, valued at approximately $2,281,731.84. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MITT. Beach Point Capital Management LP boosted its stake 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 last quarter. GSA Capital Partners LLP raised its holdings in AG Mortgage Investment Trust by 6.5% during the third quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust’s stock worth $832,000 after acquiring an additional 9,092 shares in the last quarter. Wolverine Asset Management LLC boosted its position in AG Mortgage Investment Trust by 64.1% during the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 51,709 shares during the last quarter. Allworth Financial LP bought a new position in AG Mortgage Investment Trust in the fourth quarter valued at approximately $87,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth approximately $231,000. 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.