Jones Trading Reiterates Buy Rating for AG Mortgage Investment Trust (NYSE:MITT)

Key Points

• Jones Trading has reiterated a buy rating for AG Mortgage Investment Trust (NYSE:MITT) with a target price of $8.00, indicating a potential upside of 14.29% from its current price.
• AG Mortgage Investment Trust's stock recently fell 7.4%, trading down to $7.00, with an average target price from analysts at $8.44.
• The company reported quarterly earnings of $0.18 per share, missing estimates of $0.23, while its revenue slightly exceeded expectations at $21.30 million.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Jones Trading in a note issued to investors on Friday,Benzinga reports. They currently have a $8.00 target price on the real estate investment trust's stock. Jones Trading's price target suggests a potential upside of 14.29% from the stock's current price.

MITT has been the subject of a number of other reports. Wall Street Zen downgraded AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods upped their price objective on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a research note on Thursday, July 10th. Finally, UBS Group increased their price target on AG Mortgage Investment Trust from $8.00 to $8.75 and gave the stock a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.44.

AG Mortgage Investment Trust Stock Down 7.4%

Shares of MITT traded down $0.56 during trading on Friday, reaching $7.00. The company's stock had a trading volume of 631,529 shares, compared to its average volume of 226,428. The company has a fifty day moving average of $7.52 and a two-hundred day moving average of $7.13. AG Mortgage Investment Trust has a twelve month low of $5.63 and a twelve month high of $7.95. The company has a market cap of $207.76 million, a price-to-earnings ratio of 7.87 and a beta of 1.55.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The firm had revenue of $21.30 million for the quarter, compared to analyst estimates of $21.04 million. AG Mortgage Investment Trust had a net margin of 10.98% and a return on equity of 11.86%. As a group, equities analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its holdings in shares of AG Mortgage Investment Trust by 509.1% during the fourth quarter. Prudential Financial Inc. now owns 91,047 shares of the real estate investment trust's stock valued at $605,000 after purchasing an additional 76,100 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AG Mortgage Investment Trust during the fourth quarter valued at $751,000. Northern Trust Corp lifted its holdings in shares of AG Mortgage Investment Trust by 10.2% during the fourth quarter. Northern Trust Corp now owns 278,109 shares of the real estate investment trust's stock valued at $1,849,000 after purchasing an additional 25,736 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of AG Mortgage Investment Trust during the fourth quarter valued at $70,000. Finally, Price T Rowe Associates Inc. MD lifted its stake 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 worth $305,000 after acquiring an additional 2,047 shares in the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Company 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.

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