AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) announced its earnings results on Tuesday. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04), Zacks reports. The company had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.67 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%.
AG Mortgage Investment Trust Price Performance
Shares of MITT stock traded down $0.07 during mid-day trading on Friday, hitting $6.83. The stock had a trading volume of 156,273 shares, compared to its average volume of 240,395. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $7.95. The firm's 50-day moving average is $6.86 and its two-hundred day moving average is $6.90. The firm has a market capitalization of $202.69 million, a P/E ratio of 3.00 and a beta of 1.48.
AG Mortgage Investment Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.20 per share. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.71%. AG Mortgage Investment Trust's dividend payout ratio is currently 89.89%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on MITT shares. JMP Securities reiterated a "market outperform" rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading reiterated a "buy" rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.
Check Out Our Latest Report on MITT
About AG Mortgage Investment Trust
(
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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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