AG Mortgage Investment Trust, Inc. (NYSE:MITT) Declares Quarterly Dividend of $0.21

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.21 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.77%. This is a 5.0% increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.20.

AG Mortgage Investment Trust has a dividend payout ratio of 73.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.80 annual dividend with an expected future payout ratio of 70.8%.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock traded down $0.12 during midday trading on Tuesday, hitting $7.14. 176,242 shares of the company's stock were exchanged, compared to its average volume of 244,558. The stock has a market cap of $211.74 million, a price-to-earnings ratio of 3.13 and a beta of 1.55. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $7.95. The firm's 50 day simple moving average is $6.79 and its 200 day simple moving average is $6.95.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.67 million. On average, equities research analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in AG Mortgage Investment Trust stock. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,400 shares of the real estate investment trust's stock, valued at approximately $39,000. 27.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group set a $8.00 price target on shares of AG Mortgage Investment Trust and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Jones Trading restated a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.20.

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.

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