Analysts Set AG Mortgage Investment Trust, Inc. (NYSE:MITT) Target Price at $9.00

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.00.

MITT has been the topic of a number of research analyst reports. 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. Wall Street Zen raised AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Wednesday, October 8th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 target price (up previously from $9.00) on shares of AG Mortgage Investment Trust in a research report on Monday, December 22nd.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. lifted its stake in AG Mortgage Investment Trust by 127.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 66,607 shares of the real estate investment trust’s stock valued at $482,000 after purchasing an additional 37,328 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in AG Mortgage Investment Trust by 258.4% in the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 6,460 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of AG Mortgage Investment Trust in the 3rd quarter valued at $120,000. Alliancebernstein L.P. grew its holdings in 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 acquiring an additional 3,800 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in AG Mortgage Investment Trust during the third quarter worth approximately $76,000. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Stock Up 0.6%

Shares of MITT stock opened at $8.58 on Thursday. AG Mortgage Investment Trust has a 12-month low of $5.63 and a 12-month high of $9.07. The firm has a fifty day moving average of $8.12 and a 200-day moving average of $7.73. The firm has a market capitalization of $272.17 million, a price-to-earnings ratio of 9.22 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT) last posted its earnings results on Wednesday, September 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The firm had revenue of $11.49 million during the quarter. Research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.92 annualized dividend and a yield of 10.7%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s payout ratio is 98.92%.

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).