AG Mortgage Investment Trust, Inc. (MITT) to Distribute Quarterly Dividend of $0.24 on October 30th

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date is Wednesday, September 30th.

AG Mortgage Investment Trust has increased its dividend by an average of 0.6%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a dividend payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect AG Mortgage Investment Trust to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 80.0%.

AG Mortgage Investment Trust Price Performance

MITT stock opened at $6.32 on Thursday. The firm has a market cap of $200.82 million, a P/E ratio of 8.53 and a beta of 1.64. The firm’s fifty day moving average is $6.97 and its 200 day moving average is $7.48. AG Mortgage Investment Trust has a 52 week low of $5.93 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 22.56, a quick ratio of 10.33 and a current ratio of 10.33.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results 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 business had revenue of $23.39 million for the quarter, compared to analysts’ expectations of $26.13 million. AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. Research analysts predict that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in shares of AG Mortgage Investment Trust by 31.5% in the second quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 6,444 shares during the last quarter. Odyssean LLC boosted its stake in AG Mortgage Investment Trust by 220.2% in the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust’s stock worth $802,000 after purchasing an additional 69,639 shares in the last quarter. Bank of America Corp DE grew its position in AG Mortgage Investment Trust by 23.0% during the 1st 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 during the last quarter. Renaissance Technologies LLC grew its position in AG Mortgage Investment Trust by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 10,255 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in AG Mortgage Investment Trust by 544.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 71,868 shares in the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc (NYSE:MITT) is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income from a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments tied to the U.S. housing and mortgage markets.

As a mortgage REIT, AG Mortgage Investment Trust generally finances its investments through borrowings and other capital market transactions.