Arrowstreet Capital Limited Partnership Buys 71,868 Shares of AG Mortgage Investment Trust, Inc. $MITT

Arrowstreet Capital Limited Partnership lifted its stake in AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 544.5% in the 1st quarter, HoldingsChannel reports. The fund owned 85,067 shares of the real estate investment trust’s stock after purchasing an additional 71,868 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in AG Mortgage Investment Trust were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MITT. Geode Capital Management LLC raised its stake in shares of AG Mortgage Investment Trust by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 710,876 shares of the real estate investment trust’s stock worth $6,059,000 after acquiring an additional 11,707 shares in the last quarter. State Street Corp increased its position in shares of AG Mortgage Investment Trust by 2.2% in the 4th quarter. State Street Corp now owns 576,088 shares of the real estate investment trust’s stock valued at $5,038,000 after acquiring an additional 12,581 shares during the period. Millennium Management LLC purchased a new position in AG Mortgage Investment Trust in the 4th quarter worth $2,002,000. Janney Montgomery Scott LLC increased its holdings in AG Mortgage Investment Trust by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust’s stock worth $1,470,000 after buying an additional 7,770 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in AG Mortgage Investment Trust by 33.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 152,939 shares of the real estate investment trust’s stock worth $1,303,000 after buying an additional 38,189 shares during the period. Institutional investors own 27.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MITT shares. Piper Sandler reduced their price objective on AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. BTIG Research raised shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods decreased their target price on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and an average target price of $9.07.

AG Mortgage Investment Trust Trading Up 1.6%

Shares of MITT stock opened at $7.09 on Friday. The business’s fifty day moving average price is $7.62 and its 200 day moving average price is $7.86. The firm has a market capitalization of $225.46 million, a PE ratio of 17.73 and a beta of 1.65. The company has a debt-to-equity ratio of 23.76, a current ratio of 10.33 and a quick ratio of 10.33. AG Mortgage Investment Trust, Inc. has a 1-year low of $6.91 and a 1-year high of $9.27.

AG Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.5%. AG Mortgage Investment Trust’s dividend payout ratio is currently 240.00%.

AG Mortgage Investment Trust 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).