AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Update

Key Points

• Short interest surged 59.3% to 703,441 shares as of August 14, representing 2.3% of MITT’s outstanding stock and 1.8 days of average trading volume.
• AG Mortgage Investment Trust reported quarterly EPS of $0.24, below the $0.27 consensus estimate, while revenue of $23.39 million also missed expectations of $26.13 million.
• The company paid a quarterly dividend of $0.24, equal to an annualized $0.96 and a 14.3% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $8.93.

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 703,441 shares, a growth of 59.3% from the July 30th total of 441,514 shares. Currently, 2.3% of the company's stock are sold short. Based on an average daily trading volume, of 395,298 shares, the short-interest ratio is presently 1.8 days.

AG Mortgage Investment Trust Trading Up 0.4%

AG Mortgage Investment Trust stock opened at $6.72 on Tuesday. The firm has a 50-day moving average of $7.26 and a 200-day moving average of $7.62. AG Mortgage Investment Trust has a one year low of $5.93 and a one year high of $9.27. The company has a debt-to-equity ratio of 22.56, a current ratio of 10.33 and a quick ratio of 10.33. The company has a market cap of $213.70 million, a price-to-earnings ratio of 9.08 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. The company had revenue of $23.39 million during the quarter, compared to the consensus estimate of $26.13 million. On average, equities analysts expect that AG Mortgage Investment Trust will post 1.04 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date was Tuesday, June 30th. AG Mortgage Investment Trust's dividend payout ratio (DPR) is currently 129.73%.

Wall Street Analyst Weigh In

MITT has been the topic of a number of recent research reports. JonesTrading dropped their target price on AG Mortgage Investment Trust from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. BTIG Research raised shares of AG Mortgage Investment Trust from a "neutral" rating to a "buy" rating and set a $9.00 price target for the company in a research note on Wednesday, June 17th. Finally, Piper Sandler lowered their price objective on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.93.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in shares of AG Mortgage Investment Trust by 105.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,176 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 1,628 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in AG Mortgage Investment Trust during the fourth quarter worth $40,000. Strs Ohio acquired a new position in AG Mortgage Investment Trust during the first quarter worth $39,000. BNP Paribas Financial Markets increased its holdings in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust's stock worth $39,000 after buying an additional 2,756 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust's stock worth $51,000 after acquiring an additional 3,614 shares in the last quarter. Institutional investors own 27.32% of the company's stock.

About AG Mortgage Investment Trust

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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