AG Mortgage Investment Trust (NYSE:MITT) Given New $9.00 Price Target at UBS Group

Key Points

• UBS Group has increased the price target for AG Mortgage Investment Trust (NYSE:MITT) from $8.75 to $9.00, indicating a potential upside of 18.89% from its previous close.
• AG Mortgage Investment Trust recently reported earnings of $0.18 per share, falling short of analysts' estimates of $0.23, with a revenue of $21.30 million for the quarter.
• Insider transactions revealed that Director Matthew Jozoff purchased 4,000 shares at $7.35 each, increasing his ownership of the stock by 5.31%.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) had its target price hoisted by research analysts at UBS Group from $8.75 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the real estate investment trust's stock. UBS Group's price objective indicates a potential upside of 18.89% from the stock's previous close.

A number of other research analysts also recently issued reports on MITT. Keefe, Bruyette & Woods boosted their price target on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a research report on Thursday, July 10th. Piper Sandler set a $8.50 price target on shares of AG Mortgage Investment Trust and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen downgraded shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Jones Trading restated a "buy" rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

AG Mortgage Investment Trust Trading Up 0.1%

Shares of AG Mortgage Investment Trust stock opened at $7.57 on Wednesday. The firm has a market capitalization of $240.20 million, a PE ratio of 8.71 and a beta of 1.67. The firm's 50 day moving average is $7.56 and its 200 day moving average is $7.23. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year 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 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 business had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.04 million. As a group, research analysts anticipate that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew Jozoff purchased 4,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the transaction, the director owned 79,355 shares in the company, valued at $583,259.25. This represents a 5.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new position in AG Mortgage Investment Trust during the second quarter worth about $1,128,000. Ieq Capital LLC bought a new position in AG Mortgage Investment Trust during the first quarter worth about $927,000. Acadian Asset Management LLC boosted its position in AG Mortgage Investment Trust by 65.7% during the first quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust's stock worth $2,089,000 after purchasing an additional 113,564 shares during the period. Raymond James Financial Inc. bought a new stake in shares of AG Mortgage Investment Trust during the 4th quarter valued at $751,000. Finally, Bailard Inc. bought a new stake in shares of AG Mortgage Investment Trust during the 1st quarter valued at $553,000. Institutional investors own 27.32% of the company's stock.

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.

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