AG Mortgage Investment Trust (NYSE:MITT) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.28 and traded as high as $7.44. AG Mortgage Investment Trust shares last traded at $7.36, with a volume of 150,785 shares traded.

Analyst Upgrades and Downgrades

MITT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a “market perform” rating in a research report on Thursday, July 10th. Piper Sandler set a $8.50 price target on shares of AG Mortgage Investment Trust and gave the stock an “overweight” rating in a research report on Monday, August 4th. Jones Trading reiterated a “buy” rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a research note on Friday, August 1st. Wall Street Zen cut AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. Finally, Zacks Research raised AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

AG Mortgage Investment Trust Stock Performance

The stock has a 50 day moving average of $7.55 and a 200 day moving average of $7.28. The stock has a market capitalization of $233.55 million, a P/E ratio of 8.56 and a beta of 1.68.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The firm had revenue of $21.30 million for the quarter, compared to analyst estimates 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, research analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.21 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.84 annualized dividend and a yield of 11.4%. AG Mortgage Investment Trust’s dividend payout ratio is 97.67%.

Insider Activity at AG Mortgage Investment Trust

In other AG Mortgage Investment Trust news, Director Matthew Jozoff purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $7.35 per share, with a total value 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. This represents a 5.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Trading of AG Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in MITT. Penserra Capital Management LLC acquired a new stake in AG Mortgage Investment Trust in the 2nd quarter valued at approximately $1,128,000. Ieq Capital LLC bought a new stake in shares of AG Mortgage Investment Trust in the 1st quarter worth $927,000. Acadian Asset Management LLC raised its stake in shares of AG Mortgage Investment Trust by 65.7% in the 1st quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust’s stock worth $2,089,000 after buying an additional 113,564 shares in the last quarter. Bailard Inc. bought a new stake in shares of AG Mortgage Investment Trust in the 1st quarter worth $553,000. Finally, Voya Investment Management LLC raised its stake in shares of AG Mortgage Investment Trust by 151.6% in the 1st quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 62,873 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.