Citizens Jmp Issues Positive Forecast for AG Mortgage Investment Trust (NYSE:MITT) Stock Price

AG Mortgage Investment Trust (NYSE:MITT) had its price objective hoisted by stock analysts at Citizens Jmp from $8.50 to $9.25 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s target price indicates a potential upside of 2.16% from the stock’s current price.

Several other analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. Credit Suisse Group set a $9.25 price target on AG Mortgage Investment Trust in a research note on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a report on Thursday. Finally, Jones Trading restated a “buy” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a report on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.07.

AG Mortgage Investment Trust Stock Up 1.7%

NYSE:MITT traded up $0.15 during trading hours on Thursday, reaching $9.05. 29,635 shares of the stock were exchanged, compared to its average volume of 183,782. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27. The firm has a 50 day simple moving average of $8.47 and a 200-day simple moving average of $7.84. The stock has a market capitalization of $287.37 million, a P/E ratio of 9.75 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. The firm had revenue of $30.21 million for the quarter, compared to the consensus estimate of $19.80 million. As a group, analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in MITT. Janney Montgomery Scott LLC raised its position in shares of 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 acquiring an additional 1,350 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in AG Mortgage Investment Trust by 103.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares in the last quarter. CWM LLC grew its holdings in AG Mortgage Investment Trust by 173.6% during the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,450 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of AG Mortgage Investment Trust by 103.8% in the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of AG Mortgage Investment Trust by 23.1% during the 3rd quarter. Alliancebernstein L.P. now owns 20,270 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 3,800 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).