AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.25.

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $10.00 target price (up from $9.00) on shares of AG Mortgage Investment Trust in a research report on Monday, December 22nd. Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. JonesTrading raised their price objective on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday. Citizens Jmp boosted their target price on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a “market outperform” rating in a report on Thursday, January 22nd. Finally, Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MITT. Kemnay Advisory Services Inc. bought a new stake in AG Mortgage Investment Trust during the fourth quarter valued at about $40,000. Strs Ohio acquired a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth about $39,000. BNP Paribas Financial Markets lifted its position in shares of AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares during the last quarter. CWM LLC boosted its stake in AG Mortgage Investment Trust by 173.6% during the 3rd 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 period. Finally, Russell Investments Group Ltd. grew its holdings in AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,614 shares during the last quarter. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Down 0.3%

NYSE MITT opened at $8.36 on Friday. The stock has a market capitalization of $265.38 million, a PE ratio of 9.50 and a beta of 1.69. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $9.27. The company has a 50 day moving average price of $8.70 and a two-hundred day moving average price of $7.98.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 14.58% and a net margin of 10.13%.The business had revenue of $22.98 million for the quarter, compared to analyst estimates of $23.16 million. As a group, equities analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.92 annualized dividend and a dividend yield of 11.0%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s payout ratio is currently 98.92%.

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).