AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.25.

A number of research analysts have recently issued reports on MITT shares. JonesTrading upped their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of AG Mortgage Investment Trust in a research report on Monday, December 22nd. Keefe, Bruyette & Woods upped 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. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd.

AG Mortgage Investment Trust Price Performance

Shares of NYSE MITT opened at $7.62 on Tuesday. The firm has a market cap of $241.88 million, a P/E ratio of 8.66 and a beta of 1.67. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $9.27. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38. The company has a 50 day moving average of $8.43 and a 200 day moving average of $8.05.

AG Mortgage Investment Trust (NYSE:MITT) last issued its 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). The business had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.16 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.42%. As a group, research analysts expect that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Angelo Gordon & CO. L.P. lifted its holdings in shares of AG Mortgage Investment Trust by 703.3% during the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock valued at $16,768,000 after buying an additional 2,027,676 shares during the period. Geode Capital Management LLC increased its position in AG Mortgage Investment Trust by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 710,876 shares of the real estate investment trust’s stock valued at $6,059,000 after acquiring an additional 11,707 shares during the last quarter. State Street Corp lifted its holdings in AG Mortgage Investment Trust by 2.2% in 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 during the period. LSV Asset Management lifted its holdings in AG Mortgage Investment Trust by 5.0% in the third quarter. LSV Asset Management now owns 306,280 shares of the real estate investment trust’s stock valued at $2,217,000 after acquiring an additional 14,700 shares during the period. Finally, Prudential Financial Inc. boosted its position in AG Mortgage Investment Trust by 30.4% in the second quarter. Prudential Financial Inc. now owns 255,724 shares of the real estate investment trust’s stock worth $1,931,000 after purchasing an additional 59,631 shares during the last quarter. 27.32% of the stock is currently 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).