AG Mortgage Investment Trust (NYSE:MITT) Posts Earnings Results, Misses Expectations By $0.04 EPS

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04), Zacks reports. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.67 million. AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%.

AG Mortgage Investment Trust Stock Performance

Shares of NYSE:MITT traded down $0.18 during trading hours on Tuesday, hitting $6.45. 248,274 shares of the company's stock traded hands, compared to its average volume of 241,837. The company has a market cap of $191.30 million, a price-to-earnings ratio of 2.83 and a beta of 1.48. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $7.95. The company's fifty day simple moving average is $6.93 and its two-hundred day simple moving average is $6.92.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a $0.20 dividend. This is a positive change 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 annualized dividend and a dividend yield of 12.40%. AG Mortgage Investment Trust's dividend payout ratio is 65.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MITT. JMP Securities reiterated a "market outperform" rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Jones Trading cut their price target on AG Mortgage Investment Trust from $8.50 to $8.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.25.

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.