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

Key Points

• Analyst sentiment is moderately bullish: Six of nine analysts rate AG Mortgage Investment Trust a buy, while three recommend holding the stock. The average 12-month price target is $8.93, above its recent $6.71 price.
• Recent earnings fell short of expectations: The mortgage REIT reported quarterly EPS of $0.24 versus the $0.27 consensus estimate, while revenue of $23.39 million missed expectations of $26.13 million.
• The stock offers a high dividend yield but carries significant leverage: MITT’s quarterly dividend implies an annualized yield of 14.3%, while its debt-to-equity ratio stands at 23.76 and institutional investors own 27.32% of shares.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.9286.

Several research analysts have recently weighed in on MITT shares. Piper Sandler decreased their price target on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. BTIG Research raised AG Mortgage Investment Trust from a "neutral" rating to a "buy" rating and set a $9.00 price objective for the company in a research note on Wednesday, June 17th. Weiss Ratings restated a "hold (c)" rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on AG Mortgage Investment Trust from $9.00 to $8.50 and set a "market perform" rating on the stock in a research note on Friday, May 1st. Finally, JonesTrading lowered their price target on AG Mortgage Investment Trust from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in AG Mortgage Investment Trust in the 1st quarter worth approximately $39,000. Geode Capital Management LLC raised its position in shares of AG Mortgage Investment Trust by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 686,894 shares of the real estate investment trust's stock valued at $5,187,000 after buying an additional 26,315 shares in the last quarter. Cetera Investment Advisers raised its position in shares of AG Mortgage Investment Trust by 79.0% during the 2nd quarter. Cetera Investment Advisers now owns 28,909 shares of the real estate investment trust's stock valued at $218,000 after buying an additional 12,758 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of AG Mortgage Investment Trust by 4.6% during the 2nd quarter. First Trust Advisors LP now owns 95,801 shares of the real estate investment trust's stock worth $723,000 after acquiring an additional 4,256 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter worth $79,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Price Performance

Shares of NYSE:MITT opened at $6.71 on Friday. The company has a 50 day moving average of $7.53 and a 200 day moving average of $7.79. The stock has a market cap of $213.38 million, a P/E ratio of 9.07 and a beta of 1.65. AG Mortgage Investment Trust has a 12 month low of $5.93 and a 12 month high of $9.27. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). AG Mortgage Investment Trust had a return on equity of 15.48% and a net margin of 8.55%.The firm had revenue of $23.39 million during the quarter, compared to analysts' expectations of $26.13 million. As a group, sell-side analysts forecast that AG Mortgage Investment Trust will post 1.04 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.3%. The ex-dividend date was Tuesday, June 30th. AG Mortgage Investment Trust's dividend payout ratio is 129.73%.

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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