AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.97 and traded as high as $7.74. AG Mortgage Investment Trust shares last traded at $7.74, with a volume of 233,786 shares trading hands.
Analysts Set New Price Targets
A number of brokerages have commented on MITT. UBS Group set a $8.00 price objective on AG Mortgage Investment Trust and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jones Trading reaffirmed a "buy" rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AG Mortgage Investment Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.38.
Get Our Latest Research Report on AG Mortgage Investment Trust
AG Mortgage Investment Trust Price Performance
The firm's fifty day moving average is $6.99 and its two-hundred day moving average is $6.98. The firm has a market capitalization of $227.65 million, a PE ratio of 8.62 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 analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $20.00 million during the quarter, compared to analysts' expectations of $18.67 million. AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 10.95%. The ex-dividend date is Monday, June 30th. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. AG Mortgage Investment Trust's dividend payout ratio is 89.89%.
Institutional Investors Weigh In On AG Mortgage Investment Trust
Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in AG Mortgage Investment Trust by 4.7% during 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 buying an additional 2,047 shares during the period. Tower Research Capital LLC TRC grew its position in shares of AG Mortgage Investment Trust by 43.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 2,231 shares during the period. Russell Investments Group Ltd. increased its stake in shares of AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 2,739 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of AG Mortgage Investment Trust by 28.9% during the 4th quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of AG Mortgage Investment Trust by 158.9% in the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 3,914 shares during the period. 27.32% of the stock is currently owned by 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.
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