AG Mortgage Investment Trust (NYSE:MITT) Releases Earnings Results, Misses Estimates By $0.01 EPS

AG Mortgage Investment Trust (NYSE:MITT) posted its earnings results on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), FiscalAI reports. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.

AG Mortgage Investment Trust Stock Up 2.2%

NYSE:MITT opened at $8.60 on Tuesday. The firm has a market capitalization of $272.81 million, a P/E ratio of 9.24 and a beta of 1.69. The company has a fifty day moving average of $8.70 and a 200 day moving average of $7.96. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 10.7%. AG Mortgage Investment Trust’s payout ratio is presently 98.92%.

Institutional Trading of AG Mortgage Investment Trust

Several large investors have recently modified their holdings of MITT. MML Investors Services LLC purchased a new position in AG Mortgage Investment Trust during the 4th quarter valued at about $123,000. Barclays PLC increased its stake in shares of AG Mortgage Investment Trust by 32.9% during the fourth quarter. Barclays PLC now owns 64,106 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 15,867 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of AG Mortgage Investment Trust by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,524 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 3,249 shares during the period. State Street Corp raised its holdings in shares of AG Mortgage Investment Trust by 2.2% during the fourth quarter. State Street Corp now owns 576,088 shares of the real estate investment trust’s stock valued at $5,038,000 after acquiring an additional 12,581 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in AG Mortgage Investment Trust by 21.7% in the fourth quarter. Ieq Capital LLC now owns 21,518 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 3,834 shares during the period. 27.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jones Trading restated a “buy” rating and set a $8.50 price target on shares of AG Mortgage Investment Trust in a research report on Tuesday, November 4th. Keefe, Bruyette & Woods boosted their target price on 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. Piper Sandler reaffirmed 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, December 22nd. Citizens Jmp lifted their price target on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research report on Thursday, January 22nd. Finally, Citigroup restated an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.17.

About AG Mortgage Investment Trust

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).