AG Mortgage Investment Trust (NYSE:MITT) Shares Pass Above 200-Day Moving Average – Here’s What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.00 and traded as high as $7.79. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 156,550 shares.

Wall Street Analysts Forecast Growth

MITT has been the subject of a number of recent research reports. Jones Trading reaffirmed a “buy” rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a research note on Tuesday, May 6th. UBS Group set a $8.00 price target on AG Mortgage Investment Trust and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of $8.38.

AG Mortgage Investment Trust Trading Up 1.6%

The firm has a market cap of $227.65 million, a price-to-earnings ratio of 8.62 and a beta of 1.55. The stock has a fifty day moving average price of $7.11 and a 200 day moving average price of $7.00.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.67 million. AG Mortgage Investment Trust had a net margin of 10.98% and a return on equity of 11.86%. On average, sell-side analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.84 dividend on an annualized basis and a yield of 10.95%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.20. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 94.38%.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MITT. Russell Investments Group Ltd. grew its holdings in AG Mortgage Investment Trust by 98.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 2,739 shares during the last quarter. Strs Ohio acquired a new stake in AG Mortgage Investment Trust in the 1st quarter valued at approximately $39,000. Quarry LP grew its holdings in AG Mortgage Investment Trust by 158.9% in the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 3,914 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in AG Mortgage Investment Trust by 43.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 2,231 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in AG Mortgage Investment Trust in the 4th quarter valued at approximately $70,000. Institutional investors and hedge funds own 27.32% 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.