Brokerages Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $8.00

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.00.

Several analysts have recently issued reports on MITT shares. Piper Sandler initiated coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. StockNews.com downgraded AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, JMP Securities raised 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 report on Friday, July 19th.

AG Mortgage Investment Trust Price Performance

Shares of MITT opened at $7.78 on Friday. The stock has a market capitalization of $229.31 million, a price-to-earnings ratio of 4.47 and a beta of 2.05. AG Mortgage Investment Trust has a 1 year low of $4.82 and a 1 year high of $7.95. The business’s 50 day simple moving average is $7.28 and its 200-day simple moving average is $6.67.

AG Mortgage Investment Trust (NYSE:MITT) last released 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). AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. The business had revenue of $99.82 million for the quarter, compared to analysts’ expectations of $17.00 million. During the same period in the previous year, the company earned $0.08 EPS. On average, sell-side analysts expect that AG Mortgage Investment Trust will post 0.82 earnings per share for the current year.

AG Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date of this dividend is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 43.68%.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new position in shares of AG Mortgage Investment Trust in the fourth quarter worth about $280,000. Napa Wealth Management purchased a new stake in AG Mortgage Investment Trust in the 4th quarter valued at about $96,000. Naviter Wealth LLC increased its position 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 worth $107,000 after acquiring an additional 4,000 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. 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 in the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.