AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Down 17.8% in October

AG Mortgage Investment Trust, Inc. (NYSE:MITT) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 637,000 shares, a drop of 17.8% from the September 30th total of 775,100 shares. Based on an average daily volume of 191,900 shares, the short-interest ratio is presently 3.3 days. Currently, 2.3% of the company’s stock are short sold.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $7.26 on Monday. AG Mortgage Investment Trust has a fifty-two week low of $4.90 and a fifty-two week high of $7.95. The company has a market capitalization of $213.98 million, a P/E ratio of 4.17 and a beta of 2.05. The stock has a 50-day simple moving average of $7.42 and a 200-day simple moving average of $6.94.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company 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 quarter last year, the firm earned $0.08 EPS. As a group, analysts forecast that AG Mortgage Investment Trust will post 0.84 earnings per share for the current year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.47%. The ex-dividend date is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 43.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on MITT. JMP Securities lifted their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. StockNews.com raised AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday. Finally, Piper Sandler assumed coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC increased its position in AG Mortgage Investment Trust by 12.6% in the 2nd 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 period. Naviter Wealth LLC increased its position in AG Mortgage Investment Trust by 30.9% during the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4,000 shares during the period. The Manufacturers Life Insurance Company acquired a new position in AG Mortgage Investment Trust during the 2nd quarter worth approximately $72,000. Algert Global LLC acquired a new position in AG Mortgage Investment Trust during the 2nd quarter worth approximately $81,000. Finally, SG Americas Securities LLC acquired a new position in AG Mortgage Investment Trust during the 3rd quarter worth approximately $93,000. Institutional investors and hedge funds 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.