AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.92 Consensus Target Price from Analysts

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.9167.

Several brokerages have recently commented on MITT. Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, July 15th. BTIG Research upgraded shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Wednesday, June 17th. Piper Sandler cut their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Finally, JonesTrading lowered their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 10th.

AG Mortgage Investment Trust Trading Down 1.0%

Shares of MITT opened at $6.50 on Tuesday. The company has a debt-to-equity ratio of 22.56, a current ratio of 10.33 and a quick ratio of 10.33. The firm has a market capitalization of $206.54 million, a price-to-earnings ratio of 8.78 and a beta of 1.64. The company has a 50-day moving average of $7.02 and a 200 day moving average of $7.51. AG Mortgage Investment Trust has a 1-year low of $5.93 and a 1-year high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. On average, research analysts expect that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of AG Mortgage Investment Trust by 105.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,628 shares during the period. Cetera Investment Advisers lifted its stake in shares of AG Mortgage Investment Trust by 13.7% during the 1st quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 4,279 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of AG Mortgage Investment Trust by 31.5% during the 2nd quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 6,444 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in AG Mortgage Investment Trust by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 7,770 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in AG Mortgage Investment Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 7,968 shares in the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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).