Jacobs Asset Management LLC lowered its stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,000 shares of the real estate investment trust's stock after selling 59,400 shares during the quarter. AG Mortgage Investment Trust comprises about 0.4% of Jacobs Asset Management LLC's holdings, making the stock its 28th largest position. Jacobs Asset Management LLC owned approximately 0.34% of AG Mortgage Investment Trust worth $665,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in AG Mortgage Investment Trust by 4.7% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in AG Mortgage Investment Trust by 43.0% in 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 purchasing an additional 2,231 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in AG Mortgage Investment Trust by 98.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 2,739 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in AG Mortgage Investment Trust by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust's stock valued at $268,000 after purchasing an additional 2,839 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in AG Mortgage Investment Trust by 28.9% in 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 purchasing an additional 3,827 shares in the last quarter. Hedge funds and other institutional investors own 27.32% of the company's stock.
AG Mortgage Investment Trust Trading Up 1.0%
Shares of NYSE:MITT traded up $0.07 during trading on Wednesday, hitting $7.12. 147,696 shares of the stock were exchanged, compared to its average volume of 239,591. The company has a fifty day moving average price of $6.83 and a two-hundred day moving average price of $6.90. The company has a market cap of $211.29 million, a PE ratio of 3.12 and a beta of 1.48. AG Mortgage Investment Trust, Inc. has a 12-month low of $5.63 and a 12-month high of $7.95.
AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.67 million. Equities research analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.
AG Mortgage Investment Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.20 per share. This is an increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 11.24%. The ex-dividend date was Monday, March 31st. AG Mortgage Investment Trust's payout ratio is currently 89.89%.
Wall Street Analysts Forecast Growth
MITT has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading reaffirmed a "buy" rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.
View Our Latest Stock Report on MITT
About AG Mortgage Investment Trust
(
Free Report)
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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