AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• AG Mortgage Investment Trust, Inc. (NYSE:MITT) received an average analyst recommendation of "Moderate Buy", with a 12-month target price of $8.50.
• The company reported a quarterly EPS of $0.18, falling short of estimates, while also announcing a $0.21 per share dividend yielding approximately 10.9%.
• Director Matthew Jozoff purchased 4,000 shares of stock at an average price of $7.35, increasing his holdings to approximately 79,355 shares.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five research firms that are currently covering the company, MarketBeat Ratings 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 12-month target price among brokers that have issued ratings on the stock in the last year is $8.50.

A number of equities analysts recently commented on MITT shares. UBS Group raised their price objective on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Jones Trading reaffirmed a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday, August 1st. Piper Sandler set a $8.50 price objective on shares of AG Mortgage Investment Trust and gave the stock an "overweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods raised their price objective on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $7.74 on Tuesday. The firm has a market cap of $245.56 million, a price-to-earnings ratio of 9.00 and a beta of 1.67. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year high of $7.97. The firm's 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.27.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The business had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.04 million. AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%. As a group, equities analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.9%. AG Mortgage Investment Trust's dividend payout ratio (DPR) is 97.67%.

Insider Activity

In related news, Director Matthew Jozoff bought 4,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $7.35 per share, with a total value of $29,400.00. Following the purchase, the director directly owned 79,355 shares of the company's stock, valued at approximately $583,259.25. This represents a 5.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of MITT. Northern Trust Corp boosted its stake in shares of AG Mortgage Investment Trust by 10.2% during the 4th quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust's stock valued at $1,849,000 after buying an additional 25,736 shares during the period. Jane Street Group LLC boosted its stake in shares of AG Mortgage Investment Trust by 147.3% during the 4th quarter. Jane Street Group LLC now owns 30,925 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 18,420 shares during the period. BNP Paribas Financial Markets bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at $75,000. Bank of America Corp DE raised its holdings in shares of AG Mortgage Investment Trust by 23.9% during the 4th quarter. Bank of America Corp DE now owns 37,206 shares of the real estate investment trust's stock valued at $247,000 after purchasing an additional 7,179 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at $70,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.