Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Price Target at $9.25

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

A number of analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. JonesTrading upped their price objective on shares of 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. Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Wall Street Zen raised shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MITT. Angelo Gordon & CO. L.P. lifted its holdings in shares of AG Mortgage Investment Trust by 703.3% during the 3rd 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 last quarter. Millennium Management LLC bought a new stake in shares of AG Mortgage Investment Trust in the 4th quarter worth approximately $2,002,000. Penserra Capital Management LLC bought a new stake in AG Mortgage Investment Trust in the second quarter valued at $1,128,000. Prudential Financial Inc. increased its position 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 valued at $1,931,000 after buying an additional 59,631 shares during the period. Finally, LSV Asset Management raised its position in shares of AG Mortgage Investment Trust by 23.6% in the 2nd quarter. LSV Asset Management now owns 291,580 shares of the real estate investment trust’s stock worth $2,201,000 after acquiring an additional 55,635 shares in the last quarter. 27.32% of the stock is owned by institutional investors.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $8.23 on Friday. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27. The company’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $8.00. The company has a market capitalization of $261.16 million, a P/E ratio of 9.35 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results 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 business had revenue of $22.98 million for the quarter, compared to the consensus estimate of $23.16 million. AG Mortgage Investment Trust had a return on equity of 14.58% and a net margin of 10.13%. Analysts forecast that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.23 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.92 annualized dividend and a dividend yield of 11.2%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 104.55%.

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).