AG Mortgage Investment Trust, Inc. Plans Quarterly Dividend of $0.21 (NYSE:MITT)

Key Points

• AG Mortgage Investment Trust, Inc. has declared a quarterly dividend of $0.21 per share, with a dividend yield of 10.8%, payable on October 31st to shareholders of record on September 30th.
• The company reported earnings per share of $0.18 for the last quarter, missing the analyst expectation of $0.23, yet it has a dividend payout ratio of 73.4%, indicating earnings are sufficient to cover the dividend.
• Analysts have a consensus rating of "Moderate Buy" for MITT stock, with an average target price of $8.50, reflecting a positive outlook as several firms have upgraded their price objectives recently.

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) declared a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.21 per share by the real estate investment trust on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 10.8%.

AG Mortgage Investment Trust has a dividend payout ratio of 73.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 70.8%.

AG Mortgage Investment Trust Trading Up 1.4%

MITT stock traded up $0.11 during trading on Monday, hitting $7.79. 135,860 shares of the company's stock were exchanged, compared to its average volume of 144,070. The business has a 50-day moving average price of $7.56 and a two-hundred day moving average price of $7.26. The stock has a market capitalization of $247.18 million, a price-to-earnings ratio of 9.06 and a beta of 1.67. AG Mortgage Investment Trust has a 52-week low of $5.63 and a 52-week high of $7.95.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MITT shares. Keefe, Bruyette & Woods boosted their target price on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a "market perform" rating in a report on Thursday, July 10th. Piper Sandler set a $8.50 price objective on AG Mortgage Investment Trust and gave the stock an "overweight" rating in a report on Monday, August 4th. UBS Group upped their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Jones Trading reaffirmed a "buy" rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Friday, August 1st. Finally, Wall Street Zen cut AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

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.

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