AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Recommendation of "Moderate Buy" by Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.9167.

A number of equities analysts have recently issued reports on the company. BTIG Research upgraded AG Mortgage Investment Trust from a "neutral" rating to a "buy" rating and set a $9.00 price objective for the company in a research report on Wednesday, June 17th. Piper Sandler decreased their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. Finally, JonesTrading lowered their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set a "buy" rating for the company in a report on Monday, August 10th.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in AG Mortgage Investment Trust by 105.2% during the second quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 1,628 shares during the last quarter. Odyssean LLC raised its position 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 acquiring an additional 69,639 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at about $149,000. Bank of America Corp DE lifted its stake 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 valued at $311,000 after purchasing an additional 7,968 shares during the period. Finally, Renaissance Technologies LLC lifted its stake 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 valued at $2,237,000 after purchasing an additional 10,255 shares during the period. Institutional investors and hedge funds own 27.32% of the company's stock.

AG Mortgage Investment Trust Stock Performance

Shares of AG Mortgage Investment Trust stock opened at $6.82 on Tuesday. The stock has a market cap of $216.88 million, a price-to-earnings ratio of 9.22 and a beta of 1.64. AG Mortgage Investment Trust has a twelve month low of $5.93 and a twelve month high of $9.27. The company's fifty day moving average is $7.13 and its 200 day moving average is $7.56. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 22.56.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $23.39 million for the quarter, compared to the consensus estimate of $26.13 million. Sell-side analysts forecast that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 14.1%. AG Mortgage Investment Trust's dividend payout ratio is 129.73%.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).

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