AG Mortgage Investment Trust’s (MITT) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research note published on Thursday, Benzinga reports. The firm currently has a $7.00 price target on the real estate investment trust’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a market perform rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, AG Mortgage Investment Trust presently has a consensus rating of Moderate Buy and an average price target of $7.25.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $5.50 on Thursday. The stock has a market cap of $161.98 million, a PE ratio of 3.50 and a beta of 1.98. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $6.89. The stock has a fifty day moving average of $5.96 and a 200 day moving average of $5.79.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.18 dividend. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.09%. AG Mortgage Investment Trust’s dividend payout ratio is 45.86%.

Insider Transactions at AG Mortgage Investment Trust

In other news, CEO Thomas Durkin purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average cost of $6.12 per share, with a total value of $306,000.00. Following the completion of the purchase, the chief executive officer now owns 372,832 shares in the company, valued at $2,281,731.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently modified their holdings of MITT. Northern Right Capital Management L.P. bought a new stake in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $3,715,000. Vanguard Group Inc. boosted its holdings in AG Mortgage Investment Trust by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 1,534,629 shares of the real estate investment trust’s stock valued at $9,745,000 after acquiring an additional 516,726 shares during the period. Beach Point Capital Management LP boosted its holdings in AG Mortgage Investment Trust by 68.0% during the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock valued at $3,653,000 after acquiring an additional 232,895 shares during the period. Marshall Wace LLP bought a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $774,000. Finally, Balyasny Asset Management L.P. purchased a new stake in AG Mortgage Investment Trust in the first quarter worth $739,000. 27.32% of the stock is owned by institutional investors.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.