Acadian Asset Management LLC Increases Stock Position in AG Mortgage Investment Trust, Inc. $MITT

Key Points

• Acadian Asset Management LLC has increased its stake in AG Mortgage Investment Trust by 65.7%, holding approximately $2.09 million worth of shares.
• AG Mortgage Investment Trust recently declared a quarterly dividend of $0.21 per share, representing a 10.8% dividend yield.
• The company reported earnings of $0.18 per share for the last quarter, missing the expected $0.23, while revenue slightly exceeded forecasts at $21.30 million.

Acadian Asset Management LLC lifted its holdings in AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) by 65.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 286,304 shares of the real estate investment trust's stock after purchasing an additional 113,564 shares during the period. Acadian Asset Management LLC owned 0.96% of AG Mortgage Investment Trust worth $2,089,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. D. E. Shaw & Co. Inc. bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth about $70,000. BNP Paribas Financial Markets bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth about $75,000. PharVision Advisers LLC bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth about $159,000. AlphaQuest LLC bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth about $168,000. Finally, Squarepoint Ops LLC bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth about $186,000. 27.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MITT shares. Keefe, Bruyette & Woods lifted their target price on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a "market perform" rating in a research report on Thursday, July 10th. Piper Sandler set a $8.50 price objective on shares of AG Mortgage Investment Trust and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen lowered shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Jones Trading restated a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Finally, UBS Group increased their price objective on shares of AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

AG Mortgage Investment Trust Trading Down 0.5%

MITT stock traded down $0.04 during mid-day trading on Friday, hitting $7.81. The stock had a trading volume of 287,096 shares, compared to its average volume of 141,261. AG Mortgage Investment Trust, Inc. has a 52 week low of $5.63 and a 52 week high of $7.97. The firm has a market capitalization of $247.81 million, a P/E ratio of 9.08 and a beta of 1.67. The firm has a fifty day simple moving average of $7.57 and a 200 day simple moving average of $7.27.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The company had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.04 million. AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.21%. As a group, equities analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.84 annualized dividend and a yield of 10.8%. AG Mortgage Investment Trust's dividend payout ratio (DPR) is currently 97.67%.

Insider Buying and Selling

In other news, Director Matthew Jozoff purchased 4,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the transaction, the director owned 79,355 shares of the company's stock, valued at approximately $583,259.25. This trade represents a 5.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

About AG Mortgage Investment Trust

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.