Municipal Employees Retirement System of Michigan raised its position in shares of AG Mortgage Investment (NYSE:MITT) by 30.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,690 shares of the real estate investment trust’s stock after purchasing an additional 10,790 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.17% of AG Mortgage Investment worth $888,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management grew its stake in shares of AG Mortgage Investment by 4.7% during the 4th quarter. LSV Asset Management now owns 943,327 shares of the real estate investment trust’s stock valued at $17,932,000 after acquiring an additional 42,200 shares during the period. State Street Corp grew its stake in shares of AG Mortgage Investment by 7.0% during the 2nd quarter. State Street Corp now owns 689,555 shares of the real estate investment trust’s stock valued at $12,620,000 after acquiring an additional 45,276 shares during the period. Allianz Asset Management GmbH grew its stake in shares of AG Mortgage Investment by 21.4% during the 4th quarter. Allianz Asset Management GmbH now owns 580,893 shares of the real estate investment trust’s stock valued at $11,042,000 after acquiring an additional 102,405 shares during the period. Geode Capital Management LLC grew its stake in shares of AG Mortgage Investment by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 227,650 shares of the real estate investment trust’s stock valued at $4,327,000 after acquiring an additional 10,199 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of AG Mortgage Investment by 107.7% during the 4th quarter. Renaissance Technologies LLC now owns 211,500 shares of the real estate investment trust’s stock valued at $4,021,000 after acquiring an additional 109,674 shares during the period. Institutional investors and hedge funds own 65.79% of the company’s stock.
NYSE MITT traded down $0.12 during trading hours on Friday, reaching $17.07. The company’s stock had a trading volume of 46,769 shares, compared to its average volume of 103,372. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.03. AG Mortgage Investment has a 1 year low of $16.31 and a 1 year high of $19.95. The stock has a market cap of $484.68, a PE ratio of 9.10 and a beta of 0.70.
AG Mortgage Investment (NYSE:MITT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. AG Mortgage Investment had a return on equity of 11.23% and a net margin of 92.01%. The company 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 firm earned $0.57 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year.
The firm 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 dividend on an annualized basis and a yield of 11.13%.
In other AG Mortgage Investment news, CFO Brian C. Sigman purchased 7,200 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average cost of $17.09 per share, with a total value of $123,048.00. Following the acquisition, the chief financial officer now owns 38,500 shares in the company, valued at $657,965. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is currently owned by insiders.
Separately, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.25 price objective on shares of AG Mortgage Investment in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.25.
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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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