AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.00 and traded as high as $7.79. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 156,550 shares.
Wall Street Analyst Weigh In
Several research firms recently commented on MITT. Wall Street Zen upgraded shares of AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. UBS Group set a $8.00 target price on shares of AG Mortgage Investment Trust and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Jones Trading reaffirmed a "buy" rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AG Mortgage Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.38.
Check Out Our Latest Report on AG Mortgage Investment Trust
AG Mortgage Investment Trust Price Performance
The company's 50-day simple moving average is $7.11 and its 200-day simple moving average is $7.00. The company has a market cap of $231.21 million, a price-to-earnings ratio of 8.75 and a beta of 1.55.
AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $20.00 million during the quarter, compared to analysts' expectations of $18.67 million. AG Mortgage Investment Trust had a net margin of 10.98% and a return on equity of 11.86%. Equities analysts predict that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.
AG Mortgage Investment Trust Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 30th. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 10.78%. AG Mortgage Investment Trust's dividend payout ratio (DPR) is currently 94.38%.
Institutional Trading of AG Mortgage Investment Trust
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. boosted its holdings in AG Mortgage Investment Trust by 509.1% in the fourth quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust's stock valued at $605,000 after purchasing an additional 76,100 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $751,000. Northern Trust Corp boosted its stake in shares of AG Mortgage Investment Trust by 10.2% during the 4th quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust's stock valued at $1,849,000 after buying an additional 25,736 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter worth $70,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in AG Mortgage Investment Trust by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust's stock valued at $305,000 after acquiring an additional 2,047 shares in the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.
About AG Mortgage Investment Trust
(
Get Free Report)
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.
Featured Stories
Before you consider AG Mortgage Investment Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AG Mortgage Investment Trust wasn't on the list.
While AG Mortgage Investment Trust currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
