AG Mortgage Investment Trust, Inc. $MITT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in AG Mortgage Investment Trust by 18.5%, now owning approximately 0.49% of the company's shares, valued at around $1,063,000.
• AG Mortgage Investment Trust announced a quarterly dividend of $0.21, resulting in an annualized yield of 10.8% and a payout ratio of 97.67%.
• The company's latest earnings report revealed an EPS of $0.18, missing analysts' expectations of $0.23, while revenue surpassed estimates at $21.30 million.

Goldman Sachs Group Inc. reduced its holdings in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,666 shares of the real estate investment trust's stock after selling 33,069 shares during the quarter. Goldman Sachs Group Inc. owned 0.49% of AG Mortgage Investment Trust worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nuveen LLC bought a new position in AG Mortgage Investment Trust in the first quarter valued at about $378,000. Northern Trust Corp grew its holdings in AG Mortgage Investment Trust by 10.2% during the 4th quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust's stock valued at $1,849,000 after buying an additional 25,736 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in AG Mortgage Investment Trust during the 4th quarter valued at approximately $70,000. Ieq Capital LLC purchased a new position in shares of AG Mortgage Investment Trust in the 1st quarter worth approximately $927,000. Finally, Bailard Inc. purchased a new position in shares of AG Mortgage Investment Trust in the 1st quarter worth approximately $553,000. 27.32% of the stock is owned by institutional investors.

Insider Activity at AG Mortgage Investment Trust

In related news, Director Matthew Jozoff purchased 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $7.35 per share, with a total value of $29,400.00. Following the completion of the acquisition, the director owned 79,355 shares in the company, valued at $583,259.25. This trade represents a 5.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.80% of the company's stock.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock traded down $0.07 during trading hours on Monday, hitting $7.74. 247,549 shares of the stock traded hands, compared to its average volume of 145,545. The firm's 50 day moving average price is $7.58 and its 200-day moving average price is $7.27. The stock has a market capitalization of $245.56 million, a price-to-earnings ratio of 9.00 and a beta of 1.67. AG Mortgage Investment Trust, Inc. has a 1 year low of $5.63 and a 1 year high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its earnings results on Friday, August 1st. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). AG Mortgage Investment Trust had a return on equity of 13.21% and a net margin of 10.70%.The company had revenue of $21.30 million during the quarter, compared to analysts' expectations of $21.04 million. Research analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Tuesday, September 30th. AG Mortgage Investment Trust's dividend payout ratio (DPR) is 97.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MITT shares. UBS Group lifted their target price on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Piper Sandler set a $8.50 target price on AG Mortgage Investment Trust and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen cut AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods lifted their target price on 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. Finally, Jones Trading reaffirmed a "buy" rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.50.

AG Mortgage Investment Trust Profile

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.