AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.21 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, RTT News reports. Shareholders of record on Monday, June 30th will be given 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 yield of 11.13%. The ex-dividend date is Monday, June 30th. 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% meaning 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 Trading Up 1.5%

Shares of MITT stock traded up $0.12 during trading hours on Friday, reaching $7.55. The stock had a trading volume of 237,105 shares, compared to its average volume of 245,048. The stock's fifty day simple moving average is $6.86 and its 200 day simple moving average is $6.95. The firm has a market capitalization of $223.94 million, a PE ratio of 8.47 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.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its 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). The firm had revenue of $20.00 million during the quarter, compared to analysts' expectations of $18.67 million. AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. As a group, equities research analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

MITT has been the subject of several recent analyst reports. UBS Group set a $8.00 target price on AG Mortgage Investment Trust and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Jones Trading reiterated a "buy" rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, AG Mortgage Investment Trust has a consensus rating of "Moderate Buy" and an average target price of $8.38.

Hedge Funds Weigh In On AG Mortgage Investment Trust

An institutional investor recently bought a new position in AG Mortgage Investment Trust stock. Strs Ohio bought a new position in AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,400 shares of the real estate investment trust's stock, valued at approximately $39,000. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.