Nuveen LLC Invests $378,000 in AG Mortgage Investment Trust, Inc. $MITT

Key Points

• Nuveen LLC has acquired 51,727 shares of AG Mortgage Investment Trust, valued at approximately $378,000, indicating a growing interest from institutional investors in the firm.
• AG Mortgage Investment Trust recently announced an increase in its quarterly dividend to $0.21 per share, reflecting an annualized yield of 10.8%.
• Analysts have mixed ratings on the stock, with price targets ranging from $8.00 to $9.00, suggesting a moderately positive outlook.

Nuveen LLC purchased a new stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,727 shares of the real estate investment trust's stock, valued at approximately $378,000. Nuveen LLC owned about 0.17% of AG Mortgage Investment Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in AG Mortgage Investment Trust by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust's stock valued at $305,000 after purchasing an additional 2,047 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of AG Mortgage Investment Trust by 43.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 2,231 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of AG Mortgage Investment Trust by 28.9% during the 4th quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock valued at $114,000 after buying an additional 3,827 shares during the last quarter. Barclays PLC grew its position in shares of AG Mortgage Investment Trust by 8.7% during the 4th quarter. Barclays PLC now owns 53,011 shares of the real estate investment trust's stock valued at $352,000 after acquiring an additional 4,233 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in AG Mortgage Investment Trust by 2.6% in the 1st quarter. Wolverine Asset Management LLC now owns 200,534 shares of the real estate investment trust's stock worth $1,464,000 after buying an additional 5,167 shares during the last quarter. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Stock Down 0.5%

Shares of AG Mortgage Investment Trust stock traded down $0.04 during trading on Wednesday, hitting $7.71. 100,334 shares of the company were exchanged, compared to its average volume of 220,024. AG Mortgage Investment Trust, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $7.95. The stock has a market capitalization of $244.64 million, a price-to-earnings ratio of 8.97 and a beta of 1.67. The firm has a 50 day moving average price of $7.56 and a 200 day moving average price of $7.25.

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 net margin of 10.70% and a return on equity of 13.21%. The business had revenue of $21.30 million during the quarter, compared to analyst estimates of $21.04 million. Analysts predict that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 10.9%. This is a positive change from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 30th. AG Mortgage Investment Trust's dividend payout ratio (DPR) is currently 97.67%.

Analyst Ratings Changes

A number of analysts have issued reports on MITT shares. Wall Street Zen lowered AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. UBS Group upped their price objective on 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. Jones Trading restated a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday, August 1st. Keefe, Bruyette & Woods upped their price objective on shares of AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a "market perform" rating in a research note on Thursday, July 10th. Finally, Piper Sandler set a $8.50 target price on shares of AG Mortgage Investment Trust and gave the stock an "overweight" rating in a research note on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.50.

Insider Buying and Selling at AG Mortgage Investment Trust

In related news, Director Matthew Jozoff acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the purchase, the director directly owned 79,355 shares of the company's stock, valued at $583,259.25. The trade was 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 the SEC website. Company insiders own 3.80% of the company's stock.

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.