Jones Trading Cuts AG Mortgage Investment Trust (NYSE:MITT) Price Target to $8.00

AG Mortgage Investment Trust (NYSE:MITT) had its price target cut by Jones Trading from $8.50 to $8.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Separately, JMP Securities reiterated a “market outperform” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.20.

AG Mortgage Investment Trust Trading Up 2.2 %

Shares of AG Mortgage Investment Trust stock opened at $6.27 on Thursday. The business has a fifty day simple moving average of $7.12 and a two-hundred day simple moving average of $6.99. The firm has a market capitalization of $185.81 million, a P/E ratio of 2.75 and a beta of 1.46. AG Mortgage Investment Trust has a 12 month low of $5.50 and a 12 month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. The company had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $18.44 million. Analysts predict that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a yield of 12.77%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. AG Mortgage Investment Trust’s dividend payout ratio is currently 65.04%.

Institutional Trading of AG Mortgage Investment Trust

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in AG Mortgage Investment Trust by 5.8% in the third quarter. Geode Capital Management LLC now owns 663,025 shares of the real estate investment trust’s stock worth $4,980,000 after purchasing an additional 36,081 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of AG Mortgage Investment Trust by 509.1% during the 4th quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust’s stock valued at $605,000 after buying an additional 76,100 shares during the period. Barclays PLC boosted its stake in shares of AG Mortgage Investment Trust by 54.7% in the 3rd quarter. Barclays PLC now owns 48,778 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 17,243 shares during the last quarter. State Street Corp boosted its stake in shares of AG Mortgage Investment Trust by 2.2% in the 3rd quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock worth $2,655,000 after buying an additional 7,587 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of AG Mortgage Investment Trust in the third quarter worth $94,000. 27.32% of the stock is currently owned by institutional investors.

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.