AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.03 and traded as high as $7.69. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 139,412 shares changing hands.
Analysts Set New Price Targets
A number of research firms have weighed in on MITT. Wall Street Zen raised shares of AG Mortgage Investment Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Jones Trading restated a "buy" rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a report on Thursday. Finally, UBS Group increased their price target on AG Mortgage Investment Trust from $8.00 to $8.75 and gave the stock a "buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $8.55.
Check Out Our Latest Analysis on AG Mortgage Investment Trust
AG Mortgage Investment Trust Trading Down 0.2%
The stock has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $7.03. The firm has a market capitalization of $227.76 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 quarterly earnings results on Tuesday, May 6th. 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). AG Mortgage Investment Trust had a net margin of 10.98% and a return on equity of 11.86%. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $18.67 million. As a group, equities analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.
AG Mortgage Investment Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 10.95%. AG Mortgage Investment Trust's payout ratio is currently 94.38%.
Institutional Investors Weigh In On AG Mortgage Investment Trust
A number of hedge funds have recently bought and sold shares of MITT. Raymond James Financial Inc. bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at $751,000. Intech Investment Management LLC bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at $88,000. LPL Financial LLC bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at $70,000. Prudential Financial Inc. grew its position in AG Mortgage Investment Trust by 509.1% in the 4th quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust's stock valued at $605,000 after acquiring an additional 76,100 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in AG Mortgage Investment Trust by 28.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock valued at $114,000 after acquiring an additional 3,827 shares during the last quarter. Hedge funds and other institutional investors own 27.32% of the company's stock.
AG Mortgage Investment Trust Company Profile
(
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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