AG Mortgage Investment Trust (NYSE:MITT) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

AG Mortgage Investment Trust, Inc. (NYSE:MITT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.11 and traded as high as $7.47. AG Mortgage Investment Trust shares last traded at $7.47, with a volume of 99,393 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on MITT. Jones Trading raised their price objective on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. JMP Securities restated a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

AG Mortgage Investment Trust Trading Up 1.8 %

The company has a market cap of $221.40 million, a price-to-earnings ratio of 3.27 and a beta of 2.05. The firm has a 50-day moving average price of $6.98 and a 200 day moving average price of $7.11.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. Research analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.19 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.18%. AG Mortgage Investment Trust’s payout ratio is 61.79%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Curi RMB Capital LLC acquired a new position in AG Mortgage Investment Trust during the 3rd quarter valued at approximately $105,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in AG Mortgage Investment Trust by 53.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 162,891 shares of the real estate investment trust’s stock valued at $1,223,000 after purchasing an additional 57,042 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AG Mortgage Investment Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 85,512 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 4,036 shares during the period. AlphaCore Capital LLC acquired a new position in AG Mortgage Investment Trust during the 3rd quarter valued at approximately $77,000. Finally, State Street Corp boosted its position in AG Mortgage Investment Trust by 2.2% during the 3rd quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock valued at $2,655,000 after purchasing an additional 7,587 shares during the period. 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.