Millennium Management LLC Cuts Stock Position in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Millennium Management LLC lessened its stake in AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 35.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 429,507 shares of the real estate investment trust’s stock after selling 236,633 shares during the quarter. Millennium Management LLC’s holdings in AG Mortgage Investment Trust were worth $2,852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LSV Asset Management purchased a new stake in shares of AG Mortgage Investment Trust during the second quarter worth $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 worth $3,715,000 after buying an additional 143,799 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of AG Mortgage Investment Trust during the first quarter worth $704,000. Bank of New York Mellon Corp grew its holdings in shares of AG Mortgage Investment Trust by 105.4% during the second 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 buying an additional 84,037 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of AG Mortgage Investment Trust during the second quarter worth $291,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. JMP Securities upped their price objective on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price objective for the company. Finally, StockNews.com cut shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

AG Mortgage Investment Trust Trading Up 1.0 %

Shares of MITT opened at $7.34 on Tuesday. The firm has a market cap of $216.34 million, a PE ratio of 4.22 and a beta of 2.05. The company’s 50 day simple moving average is $7.28 and its 200-day simple moving average is $6.85. AG Mortgage Investment Trust, Inc. has a 12-month low of $4.82 and a 12-month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last released its 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). The business had revenue of $99.82 million during the quarter, compared to analyst estimates 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 business posted $0.08 EPS. As a group, equities research analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.84 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.35%. The ex-dividend date is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

AG Mortgage Investment Trust Profile

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.