AG Mortgage Investment Trust, Inc. (NYSE:MITT) Stock Has Consensus Price Target of $8.92 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on AG Mortgage Investment Trust, with five buy ratings and two hold ratings; the average 12-month price target is $8.92 versus the stock’s $5.76 opening price.
• Institutional investors and hedge funds own 27.32% of MITT, with several firms—including Odyssean and Arrowstreet Capital—recently increasing their positions.
• MITT reported quarterly EPS of $0.24, below the $0.27 consensus estimate, but announced a $0.24 quarterly dividend, equivalent to a 16.7% annualized yield; its payout ratio is 129.73%.

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.92.

A number of brokerages have recently commented on MITT. BTIG Research raised shares of 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. Weiss Ratings lowered AG Mortgage Investment Trust from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, September 14th. JonesTrading cut their price target on 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. Finally, Piper Sandler reduced their price objective on 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.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in 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 worth $2,237,000 after purchasing an additional 10,255 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in AG Mortgage Investment Trust by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust's stock valued at $1,470,000 after buying an additional 7,770 shares in the last quarter. Odyssean LLC raised its stake 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 valued at $622,000 after acquiring an additional 71,868 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of AG Mortgage Investment Trust during the first quarter valued at $359,000. Institutional investors and hedge funds own 27.32% of the company's stock.

AG Mortgage Investment Trust Trading Up 0.9%

Shares of MITT stock opened at $5.76 on Friday. The firm has a market capitalization of $183.23 million, a P/E ratio of 7.79 and a beta of 1.74. AG Mortgage Investment Trust has a 1 year low of $5.59 and a 1 year high of $9.27. The firm's fifty day simple moving average is $6.61 and its 200 day simple moving average is $7.34.

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

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date is Wednesday, September 30th. AG Mortgage Investment Trust's dividend payout ratio is presently 129.73%.

AG Mortgage Investment Trust Company Profile

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

As a mortgage REIT, AG Mortgage Investment Trust generally finances its investments through borrowings and other capital market transactions.

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