Piper Sandler set a $8.50 target price on AG Mortgage Investment Trust (NYSE:MITT - Free Report) in a research note released on Monday, Marketbeat.com reports. The firm currently has an overweight rating on the real estate investment trust's stock.
Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Jones Trading reiterated a "buy" rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Friday, August 1st. UBS Group upped their price target on shares of AG Mortgage Investment Trust from $8.00 to $8.75 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the company a "market perform" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.45.
Get Our Latest Research Report on AG Mortgage Investment Trust
AG Mortgage Investment Trust Price Performance
Shares of MITT traded up $0.03 during mid-day trading on Monday, hitting $7.38. The company's stock had a trading volume of 39,639 shares, compared to its average volume of 225,970. AG Mortgage Investment Trust has a fifty-two week low of $5.63 and a fifty-two week high of $7.95. The stock has a market capitalization of $234.18 million, a price-to-earnings ratio of 8.59 and a beta of 1.62. The firm has a 50-day moving average price of $7.53 and a 200 day moving average price of $7.15.
AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). The company had revenue of $21.30 million for the quarter, compared to the consensus estimate of $21.04 million. AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.21%. As a group, equities analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.
AG Mortgage Investment Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 11.4%. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 30th. AG Mortgage Investment Trust's dividend payout ratio (DPR) is presently 97.67%.
Hedge Funds Weigh In On AG Mortgage Investment Trust
A number of hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in AG Mortgage Investment Trust by 0.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 168,478 shares of the real estate investment trust's stock worth $1,272,000 after purchasing an additional 1,350 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AG Mortgage Investment Trust by 4.7% during the fourth 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 during the last quarter. Tower Research Capital LLC TRC increased 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 acquiring an additional 2,231 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of AG Mortgage Investment Trust by 98.1% during 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 during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of AG Mortgage Investment Trust by 28.9% during the fourth 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. 27.32% of the stock is currently owned by institutional investors.
AG Mortgage Investment Trust Company Profile
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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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