AG Mortgage Investment Trust (NYSE:MITT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a research note published on Friday morning.

Other analysts have also issued research reports about the stock. Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price objective for the company. JMP Securities raised their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Stock Down 1.5 %

Shares of NYSE MITT opened at $7.26 on Friday. The company has a market capitalization of $213.98 million, a PE ratio of 4.17 and a beta of 2.05. AG Mortgage Investment Trust has a twelve month low of $4.90 and a twelve month high of $7.95. The firm has a fifty day simple moving average of $7.42 and a 200 day simple moving average of $6.94.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $17.00 million. During the same period last year, the business posted $0.08 earnings per share. As a group, equities analysts expect that AG Mortgage Investment Trust will post 0.84 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 10.47%. The ex-dividend date of this dividend is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in AG Mortgage Investment Trust during the 2nd quarter worth about $72,000. Algert Global LLC bought a new position in shares of AG Mortgage Investment Trust during the second quarter valued at about $81,000. SG Americas Securities LLC bought a new position in AG Mortgage Investment Trust during the 3rd quarter worth approximately $93,000. Naviter Wealth LLC increased its stake in shares of AG Mortgage Investment Trust by 30.9% in the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4,000 shares during the period. Finally, Transcend Capital Advisors LLC raised its stake 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 acquiring an additional 2,500 shares during the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company 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.