AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.1429.

Several equities analysts recently weighed in on MITT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Friday, April 17th. BTIG Research upgraded shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, May 1st.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in MITT. Cetera Investment Advisers raised its holdings in shares of AG Mortgage Investment Trust by 5.9% during the 4th quarter. Cetera Investment Advisers now owns 31,286 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 1,732 shares in 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 valued at $80,000 after purchasing an additional 2,334 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. LPL Financial LLC increased its position in AG Mortgage Investment Trust by 7.8% in the fourth quarter. LPL Financial LLC now owns 42,561 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 3,068 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in AG Mortgage Investment Trust by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,524 shares of the real estate investment trust’s stock worth $720,000 after purchasing an additional 3,249 shares during the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Trading Down 1.0%

MITT stock opened at $7.84 on Thursday. The company has a debt-to-equity ratio of 23.76, a current ratio of 10.33 and a quick ratio of 10.33. AG Mortgage Investment Trust has a 1-year low of $6.86 and a 1-year high of $9.27. The business has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $8.11. The company has a market capitalization of $249.38 million, a price-to-earnings ratio of 19.61 and a beta of 1.62.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. AG Mortgage Investment Trust had a net margin of 6.71% and a return on equity of 15.02%. The firm had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $21.97 million. Research analysts anticipate that AG Mortgage Investment Trust will post 1.09 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s payout ratio is currently 240.00%.

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).