AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.00 Consensus PT from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.00.

A number of research analysts have commented on MITT shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $7.50 price objective on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JMP Securities boosted their price target on 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. Finally, Piper Sandler assumed coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target on the stock.

AG Mortgage Investment Trust Trading Up 2.5 %

MITT stock opened at $7.78 on Friday. The stock has a 50-day moving average price of $7.20 and a two-hundred day moving average price of $6.63. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.86. The company has a market cap of $229.31 million, a PE ratio of 4.47 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million for the quarter, compared to analysts’ expectations of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period last year, the firm posted $0.08 EPS. Equities analysts forecast that AG Mortgage Investment Trust will post 0.82 EPS for the current fiscal year.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in shares of AG Mortgage Investment Trust during the second quarter valued at approximately $72,000. Algert Global LLC bought a new position in shares of AG Mortgage Investment Trust during the second quarter valued at approximately $81,000. Napa Wealth Management bought a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at approximately $96,000. Naviter Wealth LLC grew its holdings in shares of AG Mortgage Investment Trust by 30.9% during the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in shares of AG Mortgage Investment Trust by 12.6% during the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.