Short Interest in AG Mortgage Investment Trust, Inc. (NYSE:MITT) Decreases By 24.8%

AG Mortgage Investment Trust, Inc. (NYSE:MITT) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 285,420 shares, a decrease of 24.8% from the January 15th total of 379,484 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 185,409 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily trading volume, of 185,409 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.9% of the shares of the company are sold short.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the business. Angelo Gordon & CO. L.P. raised its position in AG Mortgage Investment Trust by 703.3% in the third quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock worth $16,768,000 after acquiring an additional 2,027,676 shares during the period. Penserra Capital Management LLC purchased a new stake in AG Mortgage Investment Trust in the second quarter worth about $1,128,000. Prudential Financial Inc. raised its stake in shares of AG Mortgage Investment Trust by 30.4% in the second quarter. Prudential Financial Inc. now owns 255,724 shares of the real estate investment trust’s stock worth $1,931,000 after buying an additional 59,631 shares during the period. LSV Asset Management lifted its position in shares of AG Mortgage Investment Trust by 23.6% during the 2nd quarter. LSV Asset Management now owns 291,580 shares of the real estate investment trust’s stock valued at $2,201,000 after buying an additional 55,635 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at approximately $421,000. Institutional investors own 27.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MITT shares. Piper Sandler reiterated 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. Keefe, Bruyette & Woods lifted 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. Citizens Jmp increased their price objective on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Jones Trading reaffirmed a “buy” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.17.

AG Mortgage Investment Trust Stock Up 2.2%

MITT opened at $8.60 on Tuesday. The stock has a market capitalization of $272.81 million, a price-to-earnings ratio of 9.24 and a beta of 1.69. The firm has a 50 day moving average price of $8.70 and a 200-day moving average price of $7.96. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $9.27.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 10.7%. AG Mortgage Investment Trust’s payout ratio is 98.92%.

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).