Citizens Jmp Has Lowered Expectations for AG Mortgage Investment Trust (NYSE:MITT) Stock Price

Key Points

• Citizens Jmp lowered its price target for AG Mortgage Investment Trust from $9.25 to $8.50 while maintaining a “market outperform” rating, implying roughly 60% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $8.54, despite mixed recommendations and recent target reductions.
• MITT shares opened at $5.30, near their 12-month low, after the REIT reported quarterly EPS of $0.24—below the $0.27 analyst consensus—and revenue of $23.39 million versus expectations of $26.13 million.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) had its price objective dropped by equities researchers at Citizens Jmp from $9.25 to $8.50 in a report released on Thursday, Benzinga reports. The firm currently has a "market outperform" rating on the real estate investment trust's stock. Citizens Jmp's price target suggests a potential upside of 60.23% from the stock's previous close.

Other research analysts have also issued reports about the company. Citigroup restated a "market outperform" rating on shares of AG Mortgage Investment Trust in a research note on Thursday. BTIG Research upgraded shares of AG Mortgage Investment Trust from a "neutral" rating to a "buy" rating and set a $9.00 price target on the stock in a research note on Wednesday, June 17th. Piper Sandler decreased their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. Weiss Ratings lowered shares of AG Mortgage Investment Trust from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Finally, JonesTrading dropped their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of "Moderate Buy" and a consensus price target of $8.54.

AG Mortgage Investment Trust Stock Down 3.2%

Shares of MITT opened at $5.30 on Thursday. The stock's 50-day moving average price is $6.36 and its 200 day moving average price is $7.22. The firm has a market capitalization of $168.70 million, a price-to-earnings ratio of 7.17 and a beta of 1.74. AG Mortgage Investment Trust has a 12-month low of $5.27 and a 12-month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.03). AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. The firm had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. Equities research analysts expect that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

Institutional Trading of AG Mortgage Investment Trust

A number of large investors have recently bought and sold shares of MITT. Arrowstreet Capital Limited Partnership boosted its stake in shares of AG Mortgage Investment Trust by 544.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust's stock valued at $622,000 after purchasing an additional 71,868 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of AG Mortgage Investment Trust by 31.5% in the 2nd quarter. NewEdge Advisors LLC now owns 26,869 shares of the real estate investment trust's stock worth $213,000 after purchasing an additional 6,444 shares during the last quarter. Odyssean LLC grew its holdings in shares of AG Mortgage Investment Trust by 220.2% in the 2nd quarter. Odyssean LLC now owns 101,269 shares of the real estate investment trust's stock worth $802,000 after purchasing an additional 69,639 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of AG Mortgage Investment Trust by 23.0% in the 1st quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust's stock worth $311,000 after purchasing an additional 7,968 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust's stock worth $2,237,000 after purchasing an additional 10,255 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc NYSE: MITT is a real estate investment trust (REIT) that invests primarily in residential mortgage-related assets. Its portfolio may include agency and non-agency mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other investments associated with the U.S. housing and residential credit markets.

The company seeks to generate income and preserve capital through a combination of asset selection, financing and active portfolio management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.