Voya Investment Management LLC Raises Holdings in AG Mortgage Investment Trust, Inc. $MITT

Key Points

• Voya Investment Management LLC increased its stake in AG Mortgage Investment Trust by 151.6%, bringing its total holdings to 104,346 shares worth approximately $762,000.
• AG Mortgage Investment Trust reported a quarterly earnings per share of $0.18, missing the consensus estimate of $0.23, but had revenue of $21.30 million, slightly exceeding estimates.
• The company declared a quarterly dividend of $0.21 per share with a dividend yield of 10.7%, which highlights its attractive income proposition for investors.

Voya Investment Management LLC grew its stake in AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) by 151.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 104,346 shares of the real estate investment trust's stock after buying an additional 62,873 shares during the quarter. Voya Investment Management LLC owned 0.35% of AG Mortgage Investment Trust worth $762,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in AG Mortgage Investment Trust in the first quarter worth approximately $39,000. D. E. Shaw & Co. Inc. acquired a new stake in AG Mortgage Investment Trust in the fourth quarter valued at $70,000. BNP Paribas Financial Markets acquired a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth about $75,000. AlphaQuest LLC purchased a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at about $168,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth about $186,000. Institutional investors and hedge funds own 27.32% of the company's stock.

AG Mortgage Investment Trust Trading Up 0.7%

AG Mortgage Investment Trust stock opened at $7.82 on Thursday. The stock has a market capitalization of $248.22 million, a price-to-earnings ratio of 9.10 and a beta of 1.67. The stock has a 50 day moving average of $7.58 and a two-hundred day moving average of $7.27. AG Mortgage Investment Trust, Inc. has a twelve month low of $5.63 and a twelve month high of $7.97.

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

AG Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Tuesday, September 30th. AG Mortgage Investment Trust's payout ratio is 97.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group increased their price target 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. Jones Trading reaffirmed a "buy" rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Wall Street Zen cut shares of AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research 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 stock a "market perform" rating in a research report on Thursday, July 10th. Finally, Piper Sandler set a $8.50 target price on AG Mortgage Investment Trust and gave the company an "overweight" rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Insider Transactions at AG Mortgage Investment Trust

In other news, Director Matthew Jozoff acquired 4,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the transaction, the director directly owned 79,355 shares in the company, valued at approximately $583,259.25. This trade represents a 5.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is 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.

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