AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report)'s share price crossed 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 traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MITT. Wall Street Zen cut AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a report on Saturday. UBS Group boosted 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. Jones Trading reaffirmed a "buy" rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods upped their target price on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.55.

AG Mortgage Investment Trust Stock Performance

The business has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $7.03. The firm has a market cap of $226.87 million, a price-to-earnings ratio of 8.59 and a beta of 1.55.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its 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). The firm had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.67 million. AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. On average, 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 business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.21 dividend. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.84 annualized dividend and a dividend yield of 10.99%. AG Mortgage Investment Trust's dividend payout ratio is presently 94.38%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 2,047 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of AG Mortgage Investment Trust by 43.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock valued at $49,000 after buying 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% in the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 2,739 shares during the period. Wells Fargo & Company MN increased its stake in shares of AG Mortgage Investment Trust by 28.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock valued at $114,000 after buying an additional 3,827 shares during the period. Finally, Quarry LP increased its stake in shares of AG Mortgage Investment Trust by 158.9% in the fourth quarter. Quarry LP now owns 6,377 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 3,914 shares during the period. Institutional investors and hedge funds 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.