Ieq Capital LLC Takes Position in AG Mortgage Investment Trust, Inc. $MITT

Key Points

• Ieq Capital LLC has acquired 126,999 shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT), valued at approximately $927,000, during the first quarter, bringing its ownership to 0.43% of the company.
• AG Mortgage Investment Trust recently increased its quarterly dividend to $0.21 per share, resulting in an annualized dividend of $0.84 and a yield of 11.2%.
• The company's latest EPS was reported at $0.18, missing expectations of $0.23, and its current market cap stands at approximately $238.26 million.

Ieq Capital LLC bought a new stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 126,999 shares of the real estate investment trust's stock, valued at approximately $927,000. Ieq Capital LLC owned about 0.43% of AG Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MITT. Raymond James Financial Inc. bought a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at approximately $751,000. Bailard Inc. purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at $553,000. Nuveen LLC purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at $378,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in AG Mortgage Investment Trust by 20.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 195,532 shares of the real estate investment trust's stock valued at $1,427,000 after buying an additional 33,480 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in AG Mortgage Investment Trust during the 4th quarter valued at $186,000. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Price Performance

NYSE MITT traded up $0.03 during trading on Monday, hitting $7.81. The company's stock had a trading volume of 12,194 shares, compared to its average volume of 220,284. The company has a market cap of $247.81 million, a PE ratio of 9.08 and a beta of 1.67. The business's 50 day simple moving average is $7.56 and its 200-day simple moving average is $7.24. AG Mortgage Investment Trust, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.04 million. Analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.21 per share. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 10.8%. The ex-dividend date was Monday, June 30th. AG Mortgage Investment Trust's dividend payout ratio (DPR) is 97.67%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Matthew Jozoff purchased 4,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average cost of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the transaction, the director owned 79,355 shares in the company, valued at $583,259.25. The trade was a 5.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company's stock.

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.