AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• AG Mortgage Investment Trust, Inc. (NYSE:MITT) has received an average recommendation of "Moderate Buy" from five research firms, with four analysts rating it as a buy and one as a hold.
• The company recently declared a quarterly dividend of $0.21, an increase from the previous $0.20, reflecting an annualized yield of 11.8%.
• AG Mortgage Investment Trust reported earnings per share (EPS) of $0.18 for the last quarter, falling short of analyst estimates of $0.23.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.45.

Several analysts recently commented on the stock. Jones Trading reissued a "buy" rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Piper Sandler set a $8.50 target price on shares of AG Mortgage Investment Trust and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen cut shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods upped 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 research note on Thursday, July 10th. Finally, UBS Group upped their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.75 and gave the company a "buy" rating in a research note on Thursday, July 10th.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently made changes to their positions in MITT. Russell Investments Group Ltd. lifted its stake in shares of AG Mortgage Investment Trust by 98.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 2,739 shares during the period. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust in the 1st quarter worth approximately $39,000. Quarry LP lifted its stake in shares of AG Mortgage Investment Trust by 158.9% in the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 3,914 shares during the period. Tower Research Capital LLC TRC lifted 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 during the period. Finally, LPL Financial LLC bought a new position in shares of AG Mortgage Investment Trust in the 4th quarter worth approximately $70,000. Institutional investors own 27.32% of the company's stock.

AG Mortgage Investment Trust Price Performance

MITT stock traded up $0.30 during trading on Monday, hitting $7.26. 194,669 shares of the stock traded hands, compared to its average volume of 226,468. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year high of $7.95. The firm's 50 day moving average is $7.52 and its two-hundred day moving average is $7.15. The stock has a market cap of $215.36 million, a price-to-earnings ratio of 8.45 and a beta of 1.62.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.15%. The firm had revenue of $21.30 million for the quarter, compared to analysts' expectations of $21.04 million. As a group, analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a $0.21 dividend. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 30th. This represents a $0.84 annualized dividend and a dividend yield of 11.6%. AG Mortgage Investment Trust's dividend payout ratio (DPR) is currently 97.67%.

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.