AG Mortgage Investment Trust (NYSE:MITT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.67 and traded as high as $8.99. AG Mortgage Investment Trust shares last traded at $8.87, with a volume of 154,369 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MITT shares. UBS Group raised their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up previously from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Jones Trading reiterated a “buy” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, November 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

AG Mortgage Investment Trust Stock Performance

The firm has a fifty day moving average of $7.95 and a 200 day moving average of $7.67. The firm has a market capitalization of $281.53 million, a PE ratio of 9.54 and a beta of 1.63.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $11.49 million during the quarter. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. Research analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 10.4%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 90.32%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at about $39,000. BNP Paribas Financial Markets lifted its stake in shares of AG Mortgage Investment Trust by 103.7% in the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 2,756 shares in the last quarter. CWM LLC boosted its holdings in AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 3,450 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in AG Mortgage Investment Trust by 103.8% in the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in AG Mortgage Investment Trust by 258.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 6,460 shares in the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

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).