Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) PT at $8.40

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.55.

MITT has been the topic of several recent analyst reports. UBS Group boosted their price objective on AG Mortgage Investment Trust from $8.00 to $8.75 and gave the stock a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a “market perform” rating in a research report on Thursday. Wall Street Zen downgraded AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Jones Trading reiterated a “buy” rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Tuesday, May 6th.

AG Mortgage Investment Trust Trading Down 1.0%

MITT stock opened at $7.60 on Thursday. The firm has a market capitalization of $225.60 million, a PE ratio of 8.54 and a beta of 1.55. The business’s 50 day simple moving average is $7.31 and its 200 day simple moving average is $7.03. AG Mortgage Investment Trust has a 1-year low of $5.63 and a 1-year high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.67 million. As a group, sell-side analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 11.05%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 94.38%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently modified their holdings of the business. Ieq Capital LLC acquired a new position in shares of AG Mortgage Investment Trust in the first quarter valued at $927,000. Acadian Asset Management LLC raised its stake in shares of AG Mortgage Investment Trust by 65.7% in the first quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust’s stock valued at $2,089,000 after purchasing an additional 113,564 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AG Mortgage Investment Trust in the fourth quarter valued at $751,000. Prudential Financial Inc. raised its stake in shares of AG Mortgage Investment Trust by 509.1% in the fourth quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust’s stock valued at $605,000 after purchasing an additional 76,100 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of AG Mortgage Investment Trust in the first quarter valued at $553,000. 27.32% of the stock is owned by institutional investors.

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.