Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) PT at $9.07

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $9.0714.

A number of analysts have recently weighed in on MITT shares. Piper Sandler dropped their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Wednesday, June 17th. Keefe, Bruyette & Woods lowered their price target on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Wednesday, July 15th.

AG Mortgage Investment Trust Stock Down 0.5%

Shares of NYSE MITT opened at $7.38 on Monday. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 23.76. AG Mortgage Investment Trust has a 52 week low of $6.86 and a 52 week high of $9.27. The firm’s fifty day moving average is $7.74 and its 200 day moving average is $7.99. The company has a market cap of $234.84 million, a price-to-earnings ratio of 18.46 and a beta of 1.62.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. AG Mortgage Investment Trust had a net margin of 6.71% and a return on equity of 15.02%. The business had revenue of $6.47 million during the quarter, compared to analysts’ expectations of $21.97 million. On average, equities research analysts expect that AG Mortgage Investment Trust will post 1.09 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 240.00%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently modified their holdings of MITT. Strs Ohio purchased a new stake in shares of AG Mortgage Investment Trust during the 1st quarter valued at about $39,000. BNP Paribas Financial Markets increased 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 valued at $39,000 after purchasing an additional 2,756 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of AG Mortgage Investment Trust during the 4th quarter valued at about $40,000. 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 purchasing an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of AG Mortgage Investment Trust by 258.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares during the period. 27.32% of the stock is owned by hedge funds and other institutional investors.

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).