AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $9.25 Consensus Target Price from Analysts

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.25.

MITT has been the topic of a number of recent research reports. JonesTrading increased their price target on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Citizens Jmp increased their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. Finally, Credit Suisse Group set a $9.25 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd.

AG Mortgage Investment Trust Stock Up 3.2%

Shares of MITT stock opened at $8.27 on Friday. The business has a 50-day moving average price of $8.65 and a two-hundred day moving average price of $8.01. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $9.27. The firm has a market cap of $262.49 million, a P/E ratio of 9.40 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.16 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.58%. As a group, research analysts expect that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.23 dividend. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 11.1%. AG Mortgage Investment Trust’s dividend payout ratio is presently 104.55%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of MITT. Cetera Investment Advisers lifted its position in AG Mortgage Investment Trust by 5.9% in the fourth quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 1,732 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of AG Mortgage Investment Trust by 32.9% in the fourth quarter. Russell Investments Group Ltd. now owns 9,429 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 2,334 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of AG Mortgage Investment Trust by 103.7% in the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,756 shares during the period. LPL Financial LLC raised its holdings in AG Mortgage Investment Trust by 7.8% during the 4th quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock valued at $363,000 after buying an additional 3,068 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in AG Mortgage Investment Trust by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,524 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 3,249 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

AG Mortgage Investment Trust Company Profile

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).