AG Mortgage Investment Trust (NYSE:MITT) Price Target Cut to $9.50 by Analysts at Piper Sandler

AG Mortgage Investment Trust (NYSE:MITT) had its target price cut by equities research analysts at Piper Sandler from $10.00 to $9.50 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective indicates a potential upside of 21.14% from the company’s current price.

A number of other equities research analysts also recently commented on the company. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Wednesday, June 17th. Keefe, Bruyette & Woods reduced their target price 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, Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Friday, April 17th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.07.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock opened at $7.84 on Thursday. The firm’s 50 day moving average price is $7.82 and its two-hundred day moving average price is $8.11. The company has a debt-to-equity ratio of 23.76, a quick ratio of 10.33 and a current ratio of 10.33. AG Mortgage Investment Trust has a 52-week low of $6.86 and a 52-week high of $9.27. The stock has a market cap of $249.38 million, a PE ratio of 19.61 and a beta of 1.62.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in AG Mortgage Investment Trust by 103.7% in the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 2,756 shares during the period. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter valued at about $39,000. Kemnay Advisory Services Inc. bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at about $40,000. Russell Investments Group Ltd. grew its position in shares of 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 purchasing an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of AG Mortgage Investment Trust by 258.4% in the 3rd 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 purchasing an additional 6,460 shares during the period. 27.32% of the stock is currently owned by 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).