AG Mortgage Investment Trust (NYSE:MITT) Receives “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a report released on Thursday, Benzinga reports. The brokerage currently has a $7.00 price objective on the real estate investment trust’s stock.

Separately, Keefe, Bruyette & Woods upped their target price on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a market perform rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of Moderate Buy and an average target price of $7.25.

AG Mortgage Investment Trust Stock Up 0.7 %

MITT stock opened at $5.50 on Thursday. The company’s 50-day moving average price is $5.96 and its two-hundred day moving average price is $5.79. The firm has a market cap of $161.98 million, a P/E ratio of 3.50 and a beta of 1.98. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $6.89.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 13.09%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, March 27th. AG Mortgage Investment Trust’s dividend payout ratio is currently 45.86%.

Insider Buying and Selling at AG Mortgage Investment Trust

In related news, CEO Thomas Durkin purchased 50,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the acquisition, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in AG Mortgage Investment Trust by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 1,534,629 shares of the real estate investment trust’s stock worth $9,745,000 after buying an additional 516,726 shares during the period. BlackRock Inc. lifted its holdings in shares of AG Mortgage Investment Trust by 9.0% during the first quarter. BlackRock Inc. now owns 873,721 shares of the real estate investment trust’s stock worth $8,126,000 after purchasing an additional 72,462 shares during the period. Northern Right Capital Management L.P. bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter worth $3,715,000. Beach Point Capital Management LP grew its stake in shares of AG Mortgage Investment Trust by 68.0% in the fourth quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after purchasing an additional 232,895 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AG Mortgage Investment Trust by 12.8% in the second quarter. Geode Capital Management LLC now owns 238,491 shares of the real estate investment trust’s stock worth $1,460,000 after acquiring an additional 26,979 shares during the period. 27.32% of the stock is currently owned by institutional investors.

About AG Mortgage Investment Trust

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.