Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Price Target at $8.40

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.55.

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a "market perform" rating in a report on Thursday. UBS Group upped their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.75 and gave the stock a "buy" rating in a research note on Thursday. Jones Trading reissued 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 raised AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock traded down $0.08 during trading hours on Thursday, reaching $7.60. The company had a trading volume of 146,403 shares, compared to its average volume of 227,167. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $7.95. The firm has a market cap of $225.57 million, a price-to-earnings ratio of 8.54 and a beta of 1.55. The company has a 50-day moving average price of $7.29 and a 200 day moving average price of $7.03.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.67 million. As a group, research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.21 per share. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.84 dividend on an annualized basis and a yield of 11.05%. AG Mortgage Investment Trust's dividend payout ratio is 94.38%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of AG Mortgage Investment Trust in the first quarter worth approximately $39,000. Russell Investments Group Ltd. grew its position in shares of AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 2,739 shares during the period. Quarry LP grew its position in shares of AG Mortgage Investment Trust by 158.9% during the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 3,914 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of AG Mortgage Investment Trust by 43.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 2,231 shares in the last quarter. Finally, LPL Financial LLC bought a new position in AG Mortgage Investment Trust in the 4th quarter worth $70,000. Hedge funds and other institutional investors own 27.32% of the company's stock.

AG Mortgage Investment Trust Company Profile

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.