Municipal Employees Retirement System of Michigan grew its holdings in shares of AG Mortgage Investment (NYSE:MITT) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,690 shares of the real estate investment trust’s stock after buying an additional 10,790 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.17% of AG Mortgage Investment worth $888,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in AG Mortgage Investment during the third quarter worth approximately $117,000. Mackenzie Financial Corp acquired a new position in shares of AG Mortgage Investment during the third quarter worth $252,000. OxFORD Asset Management LLP acquired a new position in shares of AG Mortgage Investment during the third quarter worth $321,000. The Manufacturers Life Insurance Company lifted its position in shares of AG Mortgage Investment by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,069 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 93 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of AG Mortgage Investment during the third quarter worth $423,000. Institutional investors own 65.14% of the company’s stock.
Separately, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.25 target price on shares of AG Mortgage Investment in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $18.25.
AG Mortgage Investment (MITT) opened at $17.39 on Friday. AG Mortgage Investment has a 12-month low of $16.31 and a 12-month high of $19.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $491.17, a price-to-earnings ratio of 4.63 and a beta of 0.77.
AG Mortgage Investment (NYSE:MITT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. AG Mortgage Investment had a net margin of 92.01% and a return on equity of 11.23%. The business had revenue of $22.67 million for the quarter, compared to analysts’ expectations of $21.68 million. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a $0.475 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.90 annualized dividend and a yield of 10.93%. AG Mortgage Investment’s dividend payout ratio is presently 50.53%.
In related news, CFO Brian C. Sigman purchased 7,200 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average cost of $17.09 per share, with a total value of $123,048.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,500 shares of the company’s stock, valued at approximately $657,965. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.57% of the company’s stock.
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About AG Mortgage Investment
AG Mortgage Investment Trust, Inc, a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage assets, other real estate-related securities, and financial assets. The company invests in residential mortgage-backed securities (RMBS) issued or guaranteed by a U.S.
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