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

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. Investors of record on Tuesday, September 30th will be given a dividend of 0.21 per share by the real estate investment trust on Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Tuesday, September 30th.

AG Mortgage Investment Trust has a payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

NYSE:MITT traded down $0.04 during mid-day trading on Friday, reaching $7.81. The stock had a trading volume of 287,096 shares, compared to its average volume of 141,261. The business's 50 day moving average is $7.57 and its 200 day moving average is $7.27. AG Mortgage Investment Trust has a fifty-two week low of $5.63 and a fifty-two week high of $7.97. The stock has a market cap of $247.81 million, a P/E ratio of 9.08 and a beta of 1.67.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.21% and a net margin of 10.70%.The firm had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.04 million. Equities analysts expect that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

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.