Wall Street Zen upgraded shares of AG Mortgage Investment Trust (NYSE:MITT - Free Report) from a sell rating to a hold rating in a report published on Thursday.
A number of other equities analysts have also commented on the company. JMP Securities reissued a "market outperform" rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. UBS Group set a $8.00 price objective on AG Mortgage Investment Trust and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Jones Trading reissued a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, AG Mortgage Investment Trust has a consensus rating of "Moderate Buy" and a consensus price target of $8.20.
View Our Latest Report on MITT
AG Mortgage Investment Trust Trading Up 1.2%
MITT stock traded up $0.08 during trading on Thursday, hitting $6.94. The company had a trading volume of 96,663 shares, compared to its average volume of 240,727. The company has a fifty day moving average price of $6.77 and a two-hundred day moving average price of $6.90. The company has a market cap of $206.04 million, a P/E ratio of 3.04 and a beta of 1.48. AG Mortgage Investment Trust has a fifty-two week low of $5.63 and a fifty-two week high of $7.95.
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 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.67 million. AG Mortgage Investment Trust had a net margin of 20.19% and a return on equity of 9.70%. On average, analysts expect that AG Mortgage Investment Trust 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.52%. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.19. AG Mortgage Investment Trust's payout ratio is presently 89.89%.
Institutional Investors Weigh In On AG Mortgage Investment Trust
A number of institutional investors and hedge funds have recently made changes to their positions in MITT. JPMorgan Chase & Co. raised its position in shares of AG Mortgage Investment Trust by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust's stock worth $268,000 after acquiring an additional 2,839 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of AG Mortgage Investment Trust by 5.0% during the fourth quarter. Wolverine Asset Management LLC now owns 195,367 shares of the real estate investment trust's stock worth $1,299,000 after acquiring an additional 9,370 shares during 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. Intech Investment Management LLC bought a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $88,000. Finally, LPL Financial LLC bought a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $70,000. Institutional investors own 27.32% of the company's stock.
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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