AG Mortgage Investment Trust, Inc. (NYSE:MITT) to Issue Quarterly Dividend of $0.19

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a $0.76 dividend on an annualized basis and a yield of 10.90%. The ex-dividend date of this dividend is Tuesday, December 31st.

AG Mortgage Investment Trust has a payout ratio of 73.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Trading Down 1.7 %

Shares of MITT opened at $6.97 on Friday. The stock has a market cap of $205.68 million, a P/E ratio of 3.06 and a beta of 2.01. AG Mortgage Investment Trust has a 1 year low of $5.44 and a 1 year high of $7.95. The stock’s 50-day moving average price is $7.01 and its two-hundred day moving average price is $7.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

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.