Angelo Gordon & CO. L.P. Has $16.77 Million Position in AG Mortgage Investment Trust, Inc. $MITT

Angelo Gordon & CO. L.P. boosted its holdings in AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 703.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,315,966 shares of the real estate investment trust’s stock after buying an additional 2,027,676 shares during the quarter. AG Mortgage Investment Trust makes up approximately 2.1% of Angelo Gordon & CO. L.P.’s investment portfolio, making the stock its 16th largest position. Angelo Gordon & CO. L.P. owned 7.30% of AG Mortgage Investment Trust worth $16,768,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MITT. Geode Capital Management LLC increased its position in AG Mortgage Investment Trust by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 686,894 shares of the real estate investment trust’s stock valued at $5,187,000 after acquiring an additional 26,315 shares during the period. LSV Asset Management raised its stake in shares of AG Mortgage Investment Trust by 5.0% during the third quarter. LSV Asset Management now owns 306,280 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 14,700 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of AG Mortgage Investment Trust by 30.4% during the second quarter. Prudential Financial Inc. now owns 255,724 shares of the real estate investment trust’s stock worth $1,931,000 after purchasing an additional 59,631 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of AG Mortgage Investment Trust by 3.5% during the third quarter. Penserra Capital Management LLC now owns 154,757 shares of the real estate investment trust’s stock worth $1,120,000 after purchasing an additional 5,249 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of AG Mortgage Investment Trust by 4.6% in the second quarter. First Trust Advisors LP now owns 95,801 shares of the real estate investment trust’s stock worth $723,000 after purchasing an additional 4,256 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MITT shares. Credit Suisse Group set a $9.25 price objective on AG Mortgage Investment Trust in a report on Thursday, January 22nd. JonesTrading upped their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Citigroup reissued an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price objective 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up from $9.00) on shares of AG Mortgage Investment Trust in a research note on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

AG Mortgage Investment Trust Price Performance

Shares of NYSE MITT opened at $7.43 on Friday. The company has a market capitalization of $235.89 million, a PE ratio of 8.45 and a beta of 1.67. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38. AG Mortgage Investment Trust, Inc. has a twelve month low of $5.63 and a twelve month high of $9.27. The firm has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $8.04.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.42%. The firm had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.16 million. On average, sell-side analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 12.4%. The ex-dividend date was Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s dividend payout ratio is currently 104.55%.

About AG Mortgage Investment Trust

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).