AG Mortgage Investment Trust, Inc. (MITT) To Go Ex-Dividend on December 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, December 16th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.23 per share by the real estate investment trust on Friday, January 30th. This represents a c) 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 9.5% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21.

AG Mortgage Investment Trust has decreased its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 2 years. AG Mortgage Investment Trust has a dividend payout ratio of 84.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 81.4%.

AG Mortgage Investment Trust Trading Down 1.3%

NYSE MITT opened at $8.84 on Monday. The company has a 50-day moving average price of $7.98 and a two-hundred day moving average price of $7.69. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.07. The stock has a market cap of $280.42 million, a price-to-earnings ratio of 9.50 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. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The business had revenue of $11.49 million during the quarter. As a group, equities research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MITT shares. Zacks Research upgraded shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. UBS Group raised their target price on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. 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. Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up previously from $9.00) on shares of AG Mortgage Investment Trust in a research note on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.00.

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).