Jonestrading Reaffirms Buy Rating for AG Mortgage Investment Trust (NYSE:MITT)

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Jonestrading in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $8.00 target price on the real estate investment trust's stock. Jonestrading's target price indicates a potential upside of 27.59% from the stock's current price.

Several other analysts have also recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $7.00 target price on shares of AG Mortgage Investment Trust in a research report on Thursday, April 18th. Keefe, Bruyette & Woods increased their price objective on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a "market perform" rating in a report on Thursday, February 29th. Two equities 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.com, AG Mortgage Investment Trust currently has an average rating of "Moderate Buy" and an average price target of $7.25.

AG Mortgage Investment Trust Price Performance

NYSE MITT traded up $0.51 during midday trading on Friday, hitting $6.27. 489,487 shares of the company traded hands, compared to its average volume of 198,665. The company has a market cap of $184.67 million, a PE ratio of 3.99 and a beta of 1.98. The company's 50-day simple moving average is $5.88 and its 200-day simple moving average is $5.82. AG Mortgage Investment Trust has a 52 week low of $4.82 and a 52 week high of $6.89.

Insider Buying and Selling

In other AG Mortgage Investment Trust news, CEO Thomas Durkin bought 50,000 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the transaction, the chief executive officer now directly owns 372,832 shares of the company's stock, valued at $2,281,731.84. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of MITT. Beach Point Capital Management LP boosted its holdings in AG Mortgage Investment Trust by 68.0% in the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust's stock worth $3,653,000 after buying an additional 232,895 shares during the last quarter. GSA Capital Partners LLP raised its position in AG Mortgage Investment Trust by 6.5% in the third quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust's stock valued at $832,000 after purchasing an additional 9,092 shares during the period. Wolverine Asset Management LLC raised its position in AG Mortgage Investment Trust by 64.1% in the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust's stock valued at $841,000 after purchasing an additional 51,709 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of AG Mortgage Investment Trust in the first quarter worth $704,000. Finally, Jump Financial LLC acquired a new position in shares of AG Mortgage Investment Trust in the fourth quarter worth $280,000. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.