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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.0714.

A number of equities research analysts have weighed in on MITT shares. Piper Sandler cut their price target on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, July 15th. Finally, 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 research note on Friday, May 1st.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $7.22 on Monday. The company has a market cap of $229.75 million, a PE ratio of 18.06 and a beta of 1.62. The company’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $7.98. AG Mortgage Investment Trust has a 52 week low of $6.86 and a 52 week high of $9.27. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76.

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

AG Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 13.3%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s payout ratio is currently 240.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its position in shares of AG Mortgage Investment Trust by 5.9% during the fourth quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 1,732 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in AG Mortgage Investment Trust by 32.9% in the 4th quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 2,334 shares in the last quarter. 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 purchasing an additional 2,756 shares in the last quarter. LPL Financial LLC raised its position in shares of AG Mortgage Investment Trust by 7.8% in the fourth quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 3,068 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in AG Mortgage Investment Trust by 4.0% in the 4th 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 in the last quarter. 27.32% of the stock is owned by institutional investors.

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).