AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $9.25 Consensus PT from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.25.

MITT has been the topic of several analyst reports. Citigroup reissued an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. JonesTrading boosted their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Keefe, Bruyette & Woods upped 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 note on Thursday, December 18th. Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Finally, Credit Suisse Group set a $9.25 price objective on AG Mortgage Investment Trust in a research note on Thursday, January 22nd.

Institutional Trading of AG Mortgage Investment Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Angelo Gordon & CO. L.P. boosted its holdings in AG Mortgage Investment Trust by 703.3% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock valued at $16,768,000 after acquiring an additional 2,027,676 shares during the period. LSV Asset Management increased its stake in shares of AG Mortgage Investment Trust by 23.6% in the second quarter. LSV Asset Management now owns 291,580 shares of the real estate investment trust’s stock worth $2,201,000 after purchasing an additional 55,635 shares during the period. Ritholtz Wealth Management increased its stake in shares of AG Mortgage Investment Trust by 180.3% in the fourth quarter. Ritholtz Wealth Management now owns 38,758 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 24,933 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 purchasing an additional 2,756 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new position in shares of AG Mortgage Investment Trust during the 3rd quarter worth about $116,000. 27.32% of the stock is currently owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

NYSE MITT opened at $7.72 on Tuesday. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38. The stock has a market capitalization of $244.84 million, a PE ratio of 8.77 and a beta of 1.67. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $9.27. The company has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $8.05.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.16 million. AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%. As a group, equities analysts predict that AG Mortgage Investment Trust will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 12.4%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, March 31st. AG Mortgage Investment Trust’s dividend payout ratio is 109.09%.

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).