AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Eight brokerages give AG Mortgage Investment Trust a consensus "Moderate Buy" rating (five buy, three hold) with an average 12‑month target of about $9.25 and several recent target upgrades.
• The company raised its quarterly dividend to $0.24 (annualized $0.96), representing a 12.4% yield
• In the latest quarter AG Mortgage reported $0.25 EPS (a $0.01 miss) and $23.86M revenue (beat), while the stock trades near $7.73 with a market cap of roughly $245M and a 52‑week range of $5.63–$9.27.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have been given an average rating of "Moderate Buy" by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.25.

A number of research analysts recently commented on MITT shares. Citizens Jmp boosted their price target on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a "market outperform" rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a "market perform" rating in a research note on Thursday, December 18th. Credit Suisse Group set a $9.25 price target on AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Citigroup reaffirmed an "outperform" rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Finally, JonesTrading boosted their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th.

AG Mortgage Investment Trust Stock Down 2.8%

MITT opened at $7.73 on Friday. AG Mortgage Investment Trust has a fifty-two week low of $5.63 and a fifty-two week high of $9.27. The company has a debt-to-equity ratio of 21.38, a quick ratio of 10.33 and a current ratio of 10.33. The company has a market capitalization of $245.38 million, a P/E ratio of 8.79 and a beta of 1.69. The stock has a fifty day moving average of $7.94 and a 200-day moving average of $8.02.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%.The firm had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.16 million. On average, equities analysts expect that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 12.4%. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, March 31st. AG Mortgage Investment Trust's payout ratio is presently 109.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Angelo Gordon & CO. L.P. raised its stake in AG Mortgage Investment Trust by 703.3% in the third quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust's stock valued at $16,768,000 after purchasing an additional 2,027,676 shares in the last quarter. Geode Capital Management LLC raised its stake in AG Mortgage Investment Trust by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 710,876 shares of the real estate investment trust's stock worth $6,059,000 after acquiring an additional 11,707 shares in the last quarter. State Street Corp raised its stake in AG Mortgage Investment Trust by 2.2% during the fourth quarter. State Street Corp now owns 576,088 shares of the real estate investment trust's stock worth $5,038,000 after acquiring an additional 12,581 shares in the last quarter. LSV Asset Management raised its stake in AG Mortgage Investment Trust by 5.0% during the third quarter. LSV Asset Management now owns 306,280 shares of the real estate investment trust's stock worth $2,217,000 after acquiring an additional 14,700 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in AG Mortgage Investment Trust during the fourth quarter worth about $2,002,000. Institutional investors and hedge funds own 27.32% of the company's stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).

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