AG Mortgage Investment Trust (NYSE:MITT) Given New $7.00 Price Target at JonesTrading

Key Points

• JonesTrading cut its price target on AG Mortgage Investment Trust from $8 to $7 but maintained a Buy rating; the new target implies 26.67% upside from the stock’s then-current price.
• Analyst sentiment remains moderately positive: MarketBeat reported a consensus “Moderate Buy” rating and an average target of $8.38, though ratings range from Buy to Sell.
• Shares fell 2.5% to $5.53 on Wednesday, and the REIT’s latest quarterly EPS of $0.21 missed the $0.27 consensus estimate.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) had its price objective dropped by equities researchers at JonesTrading from $8.00 to $7.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. JonesTrading's price target would indicate a potential upside of 26.67% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Citizens Jmp dropped their price target on shares of AG Mortgage Investment Trust from $9.25 to $8.50 and set a "market outperform" rating on the stock in a research note on Thursday, October 15th. Citigroup restated a "market outperform" rating on shares of AG Mortgage Investment Trust in a research report on Thursday, October 15th. Weiss Ratings downgraded shares of AG Mortgage Investment Trust from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Finally, Piper Sandler dropped their target price on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell 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.

AG Mortgage Investment Trust Stock Down 2.5%

Shares of MITT stock traded down $0.14 during mid-day trading on Wednesday, hitting $5.53. 515,300 shares of the stock were exchanged, compared to its average volume of 268,633. The firm has a fifty day moving average of $6.02 and a 200 day moving average of $7.34. AG Mortgage Investment Trust has a 52-week low of $5.20 and a 52-week high of $9.27. The company has a market cap of $175.73 million, a PE ratio of 7.47 and a beta of 1.78.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. Equities analysts predict that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of AG Mortgage Investment Trust by 3.5% in the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust's stock valued at $2,237,000 after buying an additional 10,255 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of AG Mortgage Investment Trust by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust's stock worth $1,470,000 after buying an additional 7,770 shares in the last quarter. Odyssean LLC boosted its position in AG Mortgage Investment Trust by 220.2% during the second quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust's stock worth $802,000 after acquiring an additional 69,639 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AG Mortgage Investment Trust by 544.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust's stock worth $622,000 after acquiring an additional 71,868 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at about $359,000. Hedge funds and other institutional investors own 27.32% of the company's stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other housing-related investments.

AG Mortgage Investment Trust's investment activities are focused mainly on the U.S. residential mortgage market. Its portfolio may include loans and securities backed by a range of residential properties and borrowers, providing exposure to different segments of the housing and mortgage finance sectors.

Founded in 2011, the company is externally managed by AG REIT Management, LLC, an affiliate of Angelo Gordon, an alternative investment firm.

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