Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $8.50

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.50.

Several equities research analysts have recently weighed in on MITT shares. Wall Street Zen cut shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. UBS Group increased their price objective on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Zacks Research upgraded shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Jones Trading restated a “buy” rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, August 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Wednesday, October 8th.

Insider Buying and Selling

In related news, Director Matthew Jozoff purchased 4,000 shares of AG Mortgage Investment Trust stock in a transaction 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 of the company’s stock, valued at $583,259.25. This trade represents a 5.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MITT. Penserra Capital Management LLC acquired a new position in shares of AG Mortgage Investment Trust during the second quarter valued at about $1,128,000. Ieq Capital LLC acquired a new position in shares of AG Mortgage Investment Trust during the first quarter valued at about $927,000. Acadian Asset Management LLC grew its holdings in shares of AG Mortgage Investment Trust by 65.7% during 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 buying an additional 113,564 shares during the last quarter. Bailard Inc. acquired a new position in shares of AG Mortgage Investment Trust during the first quarter valued at about $553,000. Finally, Voya Investment Management LLC lifted its position in shares of AG Mortgage Investment Trust by 151.6% during the first quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 62,873 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Stock Up 2.6%

MITT opened at $7.22 on Friday. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $7.97. The company has a fifty day moving average of $7.48 and a 200-day moving average of $7.24. The stock has a market cap of $229.09 million, a PE ratio of 8.40 and a beta of 1.68.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share for the quarter. AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.21%. The company had revenue of $11.49 million during the quarter. Sell-side analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date is Tuesday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 97.67%.

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.