AG Mortgage Investment Trust (NYSE:MITT) Earns Buy Rating from Jones Trading

AG Mortgage Investment Trust (NYSE:MITT)‘s stock had its “buy” rating reissued by equities researchers at Jones Trading in a note issued to investors on Tuesday,Benzinga reports. They presently have a $8.50 price target on the real estate investment trust’s stock. Jones Trading’s price target would indicate a potential upside of 11.62% from the company’s previous close.

A number of other brokerages have also weighed in on MITT. Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. Wall Street Zen cut AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. Piper Sandler set a $8.50 price objective on AG Mortgage Investment Trust and gave the stock an “overweight” rating in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a “market perform” rating in a report on Thursday, July 10th. Finally, Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.60.

AG Mortgage Investment Trust Trading Up 6.5%

Shares of NYSE:MITT traded up $0.47 during midday trading on Tuesday, reaching $7.62. The company had a trading volume of 312,079 shares, compared to its average volume of 212,214. The stock has a market cap of $241.62 million, a P/E ratio of 8.85 and a beta of 1.68. The company’s 50 day moving average price is $7.44 and its 200 day moving average price is $7.33. AG Mortgage Investment Trust has a 52-week low of $5.63 and a 52-week high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 EPS for the quarter. AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The business had revenue of $11.49 million for the quarter. Research analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Insider Activity

In other AG Mortgage Investment Trust news, Director Matthew Jozoff acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $7.35 per share, with a total value of $29,400.00. Following the completion of the transaction, the director directly owned 79,355 shares of the company’s stock, valued at approximately $583,259.25. This represents a 5.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. CWM LLC raised its position in shares of AG Mortgage Investment Trust by 173.6% during the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 3,450 shares during the last quarter. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at about $39,000. AlphaQuest LLC bought a new stake in AG Mortgage Investment Trust in the third quarter worth $68,000. Sei Investments Co. bought a new position in AG Mortgage Investment Trust during the 2nd quarter valued at about $79,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter worth approximately $79,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

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.