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

Key Points

• AG Mortgage Investment Trust has a consensus analyst rating of “Moderate Buy”, with six buy ratings and three hold ratings among nine firms covering the stock. The average 1-year price target is about $9.07.
• The company recently reported quarterly earnings of $0.26 per share, slightly beating estimates, though revenue of $6.47 million came in below expectations. Analysts expect the REIT to earn $1.09 per share for the full year.
• MITT declared a quarterly dividend of $0.24 per share, equal to an annualized yield of 12.5%. The stock was trading at $7.66 and remains below its 12-month high of $9.27.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.0714.

A number of analysts have weighed in on MITT shares. Weiss Ratings reissued a "hold (c)" rating on shares of AG Mortgage Investment Trust in a report on Wednesday. Piper Sandler dropped their price objective 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 shares of 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 report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a "market perform" rating for the company in a research note on Friday, May 1st.

AG Mortgage Investment Trust Stock Performance

MITT opened at $7.66 on Monday. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 23.76. The stock's 50 day moving average price is $7.76 and its two-hundred day moving average price is $8.02. The firm has a market capitalization of $243.43 million, a P/E ratio of 19.14 and a beta of 1.62. AG Mortgage Investment Trust has a 12-month low of $6.86 and a 12-month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.01. The company had revenue of $6.47 million during the quarter, compared to analyst estimates of $21.97 million. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%. On average, equities analysts forecast that AG Mortgage Investment Trust will post 1.09 earnings per share for the current year.

AG Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.96 annualized dividend and a yield of 12.5%. AG Mortgage Investment Trust's dividend payout ratio is 240.00%.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds have recently modified their holdings of MITT. Strs Ohio bought a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $39,000. BNP Paribas Financial Markets increased its holdings in AG Mortgage Investment Trust by 103.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 2,756 shares during the period. Kemnay Advisory Services Inc. bought a new stake in AG Mortgage Investment Trust in the 4th quarter valued at $40,000. Russell Investments Group Ltd. raised its stake in shares of AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 3,614 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of AG Mortgage Investment Trust by 258.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust's stock valued at $65,000 after buying an additional 6,460 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 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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