AG Mortgage Investment Trust, Inc. $MITT Stock Holdings Cut by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its position in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,596 shares of the real estate investment trust’s stock after selling 3,090 shares during the quarter. MetLife Investment Management LLC’s holdings in AG Mortgage Investment Trust were worth $107,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. bought a new position in AG Mortgage Investment Trust during the 4th quarter valued at $70,000. BNP Paribas Financial Markets bought a new position in AG Mortgage Investment Trust during the 4th quarter valued at $75,000. AlphaQuest LLC bought a new position in AG Mortgage Investment Trust during the 1st quarter valued at $168,000. PharVision Advisers LLC bought a new position in AG Mortgage Investment Trust during the 4th quarter valued at $159,000. Finally, Squarepoint Ops LLC bought a new position in AG Mortgage Investment Trust during the 4th quarter valued at $186,000. 27.32% of the stock is owned by institutional investors.

AG Mortgage Investment Trust Stock Down 0.5%

MITT opened at $7.71 on Thursday. The stock has a fifty day moving average of $7.56 and a 200-day moving average of $7.25. The firm has a market capitalization of $244.57 million, a P/E ratio of 8.96 and a beta of 1.67. AG Mortgage Investment Trust, Inc. has a 12-month low of $5.63 and a 12-month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The business had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $21.04 million. AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.21%. On average, analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a $0.21 dividend. The ex-dividend date was Monday, June 30th. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.9%. AG Mortgage Investment Trust’s dividend payout ratio is currently 97.67%.

Insider Activity

In other news, Director Matthew Jozoff acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the acquisition, the director owned 79,355 shares in the company, valued at approximately $583,259.25. The trade was a 5.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

MITT has been the subject of a number of research reports. Piper Sandler set a $8.50 price target on AG Mortgage Investment Trust and gave the company an “overweight” rating in a research note on Monday, August 4th. UBS Group raised their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods raised their price objective on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a “market perform” rating in a research note on Thursday, July 10th. Wall Street Zen lowered AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Finally, Jones Trading reissued a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday, August 1st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.