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

Key Points

• AG Mortgage Investment Trust has a consensus rating of "Moderate Buy" from five brokerages, with a 1-year price target averaging $8.45.
• The company recently increased its quarterly dividend from $0.20 to $0.21 per share, representing an annual yield of 11.2%.
• AG Mortgage Investment Trust reported earnings of $0.18 per share for the latest quarter, missing estimates by $0.05, while revenue slightly exceeded forecasts at $21.30 million.

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five ratings 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 assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.50.

MITT has been the subject of a number of analyst reports. Wall Street Zen lowered AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. UBS Group increased their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a "buy" rating in a research note on Wednesday. Jones Trading reissued a "buy" rating and set 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 AG Mortgage Investment Trust and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their price target on 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.

AG Mortgage Investment Trust Price Performance

NYSE MITT traded up $0.21 on Friday, reaching $7.70. 268,807 shares of the company's stock traded hands, compared to its average volume of 177,512. AG Mortgage Investment Trust has a 12 month low of $5.63 and a 12 month high of $7.95. The stock has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $7.24. The stock has a market cap of $244.32 million, a PE ratio of 8.95 and a beta of 1.67.

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

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 10.9%. AG Mortgage Investment Trust's payout ratio is 97.67%.

Insider Buying and Selling

In other AG Mortgage Investment Trust news, Director Matthew Jozoff purchased 4,000 shares of the company's stock in a transaction that occurred 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 completion of the purchase, the director directly owned 79,355 shares of the company's stock, valued at $583,259.25. The trade was a 5.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in AG Mortgage Investment Trust by 10.2% in the fourth quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust's stock worth $1,849,000 after purchasing an additional 25,736 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in AG Mortgage Investment Trust in the fourth quarter worth $70,000. Price T Rowe Associates Inc. MD raised its holdings in AG Mortgage Investment Trust by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust's stock worth $305,000 after purchasing an additional 2,047 shares in the last quarter. Bailard Inc. bought a new position in AG Mortgage Investment Trust in the first quarter worth $553,000. Finally, Wells Fargo & Company MN raised its holdings in AG Mortgage Investment Trust by 28.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 3,827 shares in the last quarter. Institutional investors 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.