AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.1429.

Several equities analysts have recently issued reports on MITT shares. Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Friday, April 17th. Keefe, Bruyette & Woods cut their price objective on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, May 1st. Finally, BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, June 17th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in AG Mortgage Investment Trust in the 4th quarter valued at $40,000. Strs Ohio bought a new stake in shares of AG Mortgage Investment Trust during the 1st quarter worth $39,000. BNP Paribas Financial Markets increased its holdings in AG Mortgage Investment Trust by 103.7% in 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 in the last quarter. Russell Investments Group Ltd. increased 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 worth $51,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of AG Mortgage Investment Trust by 258.4% in the third 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 buying an additional 6,460 shares during the period. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock opened at $8.09 on Thursday. The business’s 50-day simple moving average is $7.81 and its 200 day simple moving average is $8.12. The stock has a market cap of $257.10 million, a price-to-earnings ratio of 20.21 and a beta of 1.63. AG Mortgage Investment Trust has a 12-month low of $6.86 and a 12-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 23.76.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $21.97 million. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%. As a group, research analysts anticipate that AG Mortgage Investment Trust will post 1.09 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 11.9%. AG Mortgage Investment Trust’s payout ratio is 240.00%.

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).