AG Mortgage Investment Trust (NYSE:MITT) Stock Gets Price Target Reduction from Citizens Jmp

AG Mortgage Investment Trust (NYSE:MITT) had its price objective trimmed by Citizens Jmp from $9.25 to $8.50 in a report published on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on MITT. Weiss Ratings cut shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Piper Sandler dropped their target price on AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Wednesday, June 17th. Citigroup reaffirmed a “market outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday. Finally, JonesTrading lowered their price target on 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. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.54.

AG Mortgage Investment Trust Stock Down 3.2%

Shares of NYSE:MITT opened at $5.36 on Thursday. The business’s 50 day moving average is $6.30 and its 200 day moving average is $7.20. AG Mortgage Investment Trust has a 12-month low of $5.27 and a 12-month high of $9.27. The stock has a market cap of $170.54 million, a price-to-earnings ratio of 7.25 and a beta of 1.74.

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 analysts’ consensus estimates of $0.27 by ($0.03). AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. The business had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. As a group, equities research analysts expect that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

AG Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.96 annualized dividend and a yield of 17.9%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 129.73%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of AG Mortgage Investment Trust by 3.5% in the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock worth $2,237,000 after acquiring an additional 10,255 shares during the period. Janney Montgomery Scott LLC lifted its holdings in AG Mortgage Investment Trust by 4.0% in 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 acquiring an additional 7,770 shares during the period. Odyssean LLC lifted its holdings in AG Mortgage Investment Trust by 220.2% in the second quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock valued at $802,000 after acquiring an additional 69,639 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in AG Mortgage Investment Trust by 544.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock worth $622,000 after purchasing an additional 71,868 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in AG Mortgage Investment Trust in the first quarter worth about $359,000. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.