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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.01 and traded as high as $8.26. AG Mortgage Investment Trust shares last traded at $8.0690, with a volume of 165,617 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MITT. Keefe, Bruyette & Woods increased their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up from $9.00) on shares of AG Mortgage Investment Trust in a research note on Monday, December 22nd. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

AG Mortgage Investment Trust Stock Performance

The business’s 50 day moving average price is $8.64 and its two-hundred day moving average price is $8.01. The company has a market capitalization of $256.11 million, a price-to-earnings ratio of 9.17 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.16 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.58%. On average, sell-side analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.23 per share. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, December 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 11.4%. AG Mortgage Investment Trust’s payout ratio is currently 104.55%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Odyssean LLC purchased a new stake in shares of AG Mortgage Investment Trust during the fourth quarter valued at $168,000. Millennium Management LLC acquired a new stake in AG Mortgage Investment Trust during the 4th quarter worth about $2,002,000. AQR Capital Management LLC lifted its stake in AG Mortgage Investment Trust by 29.5% during the fourth quarter. AQR Capital Management LLC now owns 124,719 shares of the real estate investment trust’s stock valued at $1,063,000 after buying an additional 28,416 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of AG Mortgage Investment Trust by 5.9% in the fourth quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 1,732 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of AG Mortgage Investment Trust by 32.9% in the fourth quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 2,334 shares in the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).