AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

AG Mortgage Investment Trust, Inc. (NYSE:MITT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.49 and traded as high as $8.21. AG Mortgage Investment Trust shares last traded at $8.0450, with a volume of 63,059 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MITT shares. Piper Sandler set a $8.50 price objective on shares of AG Mortgage Investment Trust and gave the stock an “overweight” rating in a report on Monday, August 4th. UBS Group increased their target price on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Jones Trading restated a “buy” rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average target price of $8.60.

AG Mortgage Investment Trust Stock Performance

The firm’s 50-day moving average is $7.50 and its 200 day moving average is $7.49. The stock has a market cap of $255.35 million, a PE ratio of 8.65 and a beta of 1.68.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. The company had revenue of $11.49 million for the quarter. On average, sell-side analysts predict that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.84 annualized dividend and a yield of 10.4%. AG Mortgage Investment Trust’s dividend payout ratio is currently 90.32%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of AG Mortgage Investment Trust by 173.6% during the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,450 shares during the period. BNP Paribas Financial Markets raised its position in AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,756 shares during the last quarter. Strs Ohio purchased a new position in AG Mortgage Investment Trust during the 1st quarter worth $39,000. Russell Investments Group Ltd. lifted its stake in shares of AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of AG Mortgage Investment Trust by 258.4% in the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 6,460 shares in the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.