AG Mortgage Investment Trust (NYSE:MITT) Stock Rating Lowered by StockNews.com

AG Mortgage Investment Trust (NYSE:MITT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently issued reports on MITT. JMP Securities increased their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Piper Sandler began coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Stock Performance

NYSE MITT opened at $7.19 on Friday. The stock has a market cap of $212.03 million, a P/E ratio of 4.64 and a beta of 2.04. AG Mortgage Investment Trust has a fifty-two week low of $5.06 and a fifty-two week high of $7.95. The stock has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $6.99.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The business had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. During the same period in the previous year, the business earned $0.08 EPS. Sell-side analysts predict that AG Mortgage Investment Trust will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Large investors have recently made changes to their positions in the business. LSV Asset Management purchased a new stake in AG Mortgage Investment Trust during the 2nd quarter valued at about $1,110,000. Renaissance Technologies LLC grew its holdings in shares of AG Mortgage Investment Trust by 34.6% during the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after buying an additional 143,799 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. Bank of New York Mellon Corp raised its holdings in AG Mortgage Investment Trust by 105.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock worth $1,087,000 after acquiring an additional 84,037 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in AG Mortgage Investment Trust in the 2nd quarter valued at approximately $291,000. 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 operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.