AG Mortgage Investment Trust Price Target Cut to $27.00 by Analysts at Deutsche Bank (MITT)
Equities research analysts at Deutsche Bank decreased their price target on shares of AG Mortgage Investment Trust (NASDAQ: MITT) from $27.50 to $27.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “We view MITT’s 4Q results as a little soft, as core EPS was 8c below our estimate and BVPS was down 1% seq. While we are reducing our ’13 estimates to reflect narrower net interest spreads due to a larger swap book, we expect core EPS to increase in ’13 from an increased mix of non-agency MBS and slower agency prepay speeds.”
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of AG Mortgage Investment Trust in a research note to investors on Tuesday. They set a “neutral” rating and a $26.00 price target on the stock. Separately, analysts at Zacks upgraded shares of AG Mortgage Investment Trust from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, February 13th. They now have a $27.10 price target on the stock. Finally, analysts at Zacks downgraded shares of AG Mortgage Investment Trust from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 8th. They now have a $27.10 price target on the stock.
AG Mortgage Investment Trust traded down 3.05% on Wednesday, hitting $25.7301. AG Mortgage Investment Trust has a 52-week low of $19.09 and a 52-week high of $26.94. The stock’s 50-day moving average is currently $25.40. The company has a market cap of $595.0 million and a price-to-earnings ratio of 3.20.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 26th. Shareholders of record on Monday, March 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 12.06%. The ex-dividend date of this dividend is Thursday, March 14th.
Alexander Mortgage REIT, Inc. is formed to invest in, acquire and manage a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets.
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