Keefe, Bruyette & Woods Lowers AG Mortgage Investment Trust (NYSE:MITT) Price Target to $8.50

Key Points

• Keefe, Bruyette & Woods cut its price target on AG Mortgage Investment Trust to $8.50 and kept a market perform rating, implying about an 8.3% upside from the prior close.
• Analyst consensus remains positive with five Buy and three Hold ratings, a consensus rating of Moderate Buy and an average target of $9.17.
• Shares traded around $7.85 midday (52-week range $6.33–$9.27) and the REIT posted quarterly EPS of $0.26, slightly beating the $0.25 estimate.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) had its price objective decreased by stock analysts at Keefe, Bruyette & Woods from $9.00 to $8.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 8.28% from the company's previous close.

Other analysts also recently issued research reports about the company. Citizens Jmp boosted their price objective on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a "market outperform" rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AG Mortgage Investment Trust in a research report on Friday, April 17th. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Citigroup reaffirmed an "outperform" rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Finally, JonesTrading boosted their target price on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, AG Mortgage Investment Trust currently has a consensus rating of "Moderate Buy" and an average target price of $9.17.

AG Mortgage Investment Trust Price Performance

Shares of MITT traded down $0.04 during midday trading on Friday, reaching $7.85. The stock had a trading volume of 57,515 shares, compared to its average volume of 261,683. AG Mortgage Investment Trust has a 52 week low of $6.33 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 21.38, a current ratio of 10.33 and a quick ratio of 10.33. The firm's 50 day moving average price is $7.78 and its 200-day moving average price is $8.08. The company has a market capitalization of $249.12 million, a P/E ratio of 19.58 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 14.93% and a net margin of 6.71%.The company had revenue of $6.47 million for the quarter, compared to the consensus estimate of $21.97 million. On average, analysts forecast that AG Mortgage Investment Trust will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Angelo Gordon & CO. L.P. increased its position in AG Mortgage Investment Trust by 703.3% in the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust's stock worth $16,768,000 after purchasing an additional 2,027,676 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of AG Mortgage Investment Trust by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 201,153 shares of the real estate investment trust's stock worth $1,470,000 after acquiring an additional 7,770 shares in the last quarter. Bailard Inc. bought a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth about $394,000. Ritholtz Wealth Management boosted its stake in shares of AG Mortgage Investment Trust by 180.3% during the 4th quarter. Ritholtz Wealth Management now owns 38,758 shares of the real estate investment trust's stock worth $330,000 after acquiring an additional 24,933 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 2,756 shares in the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).

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