AG Mortgage Investment Trust (NYSE:MITT) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• AG Mortgage Investment Trust (NYSE:MITT) shares crossed above their two hundred day moving average of $7.22, trading as high as $7.46 before settling at $7.39.
• Wall Street analysts have mixed ratings for MITT, with Piper Sandler setting a target price of $8.50 and a consensus rating of "Moderate Buy".
• The company recently announced an increase in its quarterly dividend to $0.21 per share, reflecting a yield of 11.4% and a payout ratio of 97.67%.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.22 and traded as high as $7.46. AG Mortgage Investment Trust shares last traded at $7.39, with a volume of 94,762 shares.

Wall Street Analysts Forecast Growth

MITT has been the topic of a number of research reports. Piper Sandler set a $8.50 target price 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 lowered shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods lifted their target price on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a report on Thursday, July 10th. Jones Trading reaffirmed a "buy" rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Friday, August 1st. Finally, UBS Group lifted their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.75 and gave the stock a "buy" rating in a report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.45.

AG Mortgage Investment Trust Price Performance

The stock has a market cap of $234.33 million, a P/E ratio of 8.59 and a beta of 1.62. The company's 50 day simple moving average is $7.56 and its 200 day simple moving average is $7.22.

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

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 11.4%. AG Mortgage Investment Trust's payout ratio is currently 97.67%.

Insider Activity

In related news, Director Matthew Jozoff acquired 4,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $7.35 per share, with a total value of $29,400.00. Following the completion of the transaction, the director directly owned 79,355 shares of the company's stock, valued at approximately $583,259.25. The trade was a 5.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several large investors have recently made changes to their positions in MITT. LPL Financial LLC bought a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $70,000. Wells Fargo & Company MN increased its position in shares of AG Mortgage Investment Trust by 28.9% during the fourth quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock worth $114,000 after acquiring an additional 3,827 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of AG Mortgage Investment Trust by 98.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 2,739 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $751,000. Finally, Barclays PLC increased its position in shares of AG Mortgage Investment Trust by 8.7% during the fourth quarter. Barclays PLC now owns 53,011 shares of the real estate investment trust's stock worth $352,000 after acquiring an additional 4,233 shares in the last quarter. Institutional investors own 27.32% of the company's stock.

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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