Zacks Research Upgrades AG Mortgage Investment Trust (NYSE:MITT) to "Hold"

Key Points

• Zacks Research has upgraded AG Mortgage Investment Trust (NYSE:MITT) from a "strong sell" to a "hold" rating in a recent report.
• AG Mortgage Investment Trust reported $0.18 earnings per share for the last quarter, missing the consensus estimate of $0.23, with a net margin of 10.70%.
• Currently, the average rating for AG Mortgage Investment Trust among analysts is "Moderate Buy" with a consensus target price of $8.50.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on MITT. Jones Trading reiterated a "buy" rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, August 1st. Piper Sandler set a $8.50 price target on AG Mortgage Investment Trust and gave the stock an "overweight" rating in a report on Monday, August 4th. UBS Group boosted their price objective on AG Mortgage Investment Trust from $8.75 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut AG Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Keefe, Bruyette & Woods lifted their target price on AG Mortgage Investment Trust from $8.25 to $8.50 and gave the stock a "market perform" rating in a report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

AG Mortgage Investment Trust Price Performance

Shares of MITT opened at $7.42 on Tuesday. The business has a 50-day moving average of $7.55 and a 200-day moving average of $7.28. The company has a market capitalization of $235.28 million, a price-to-earnings ratio of 8.62 and a beta of 1.68. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year high of $7.97.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last released its earnings results on Friday, August 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). AG Mortgage Investment Trust had a net margin of 10.70% and a return on equity of 13.21%. The firm had revenue of $21.30 million for the quarter, compared to analyst estimates of $21.04 million. As a group, sell-side analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

Insider Activity

In other AG Mortgage Investment Trust news, Director Matthew Jozoff acquired 4,000 shares of AG Mortgage Investment Trust stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $7.35 per share, for a total transaction of $29,400.00. Following the completion of the acquisition, the director directly owned 79,355 shares of the company's stock, valued at $583,259.25. This represents a 5.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently bought and sold shares of MITT. Strs Ohio purchased a new stake in AG Mortgage Investment Trust in the 1st quarter valued at $39,000. Sei Investments Co. bought a new stake in shares of AG Mortgage Investment Trust in the 2nd quarter worth $79,000. The Manufacturers Life Insurance Company purchased a new stake in shares of AG Mortgage Investment Trust in the second quarter valued at about $79,000. AlphaQuest LLC bought a new position in shares of AG Mortgage Investment Trust during the first quarter valued at about $168,000. Finally, State of Wyoming purchased a new position in AG Mortgage Investment Trust during the second quarter worth about $184,000. Institutional investors own 27.32% of the company's stock.

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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