JonesTrading Boosts AG Mortgage Investment Trust (NYSE:MITT) Price Target to $9.00

AG Mortgage Investment Trust (NYSE:MITT) had its target price hoisted by JonesTrading from $8.50 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s price objective suggests a potential upside of 5.08% from the stock’s current price.

Other analysts also recently issued reports about the company. Citigroup restated an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Citizens Jmp increased their price target on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a “market outperform” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods increased their target price on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Finally, Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average price target of $9.25.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock traded down $0.08 on Tuesday, reaching $8.57. 91,183 shares of the company’s stock were exchanged, compared to its average volume of 185,095. The company has a market capitalization of $271.85 million, a P/E ratio of 9.21 and a beta of 1.69. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27. The firm’s 50-day moving average is $8.70 and its two-hundred day moving average is $7.96.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $22.98 million for the quarter, compared to analyst estimates of $23.16 million. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. On average, analysts expect that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in AG Mortgage Investment Trust by 32.9% during the fourth quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 2,334 shares during the period. BNP Paribas Financial Markets increased its position in shares of AG Mortgage Investment Trust by 103.7% during the 3rd 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 during the last quarter. LPL Financial LLC raised its stake in shares of AG Mortgage Investment Trust by 7.8% during the 4th quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 3,068 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of AG Mortgage Investment Trust by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,524 shares of the real estate investment trust’s stock worth $720,000 after purchasing an additional 3,249 shares during the period. Finally, CWM LLC boosted its holdings in shares of AG Mortgage Investment Trust by 173.6% in the 3rd quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,450 shares during the last quarter. 27.32% of the stock is 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).