AG Mortgage Investment Trust, Inc. (NYSE:MITT) Position Increased by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,947 shares of the real estate investment trust’s stock after buying an additional 4,000 shares during the quarter. Naviter Wealth LLC’s holdings in AG Mortgage Investment Trust were worth $107,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beach Point Capital Management LP lifted its holdings in 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 period. Wolverine Asset Management LLC raised its holdings in AG Mortgage Investment Trust by 64.1% during the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after purchasing an additional 51,709 shares in the last quarter. Jump Financial LLC acquired a new stake in AG Mortgage Investment Trust in the fourth quarter worth approximately $280,000. Raymond James Financial Services Advisors Inc. bought a new position in AG Mortgage Investment Trust during the 4th quarter valued at $231,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in AG Mortgage Investment Trust during the third quarter valued at about $126,000. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

MITT traded up $0.01 during trading on Tuesday, reaching $6.57. 257,277 shares of the stock traded hands, compared to its average volume of 230,545. The stock’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $6.28. AG Mortgage Investment Trust, Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $6.99. The stock has a market cap of $193.62 million, a price-to-earnings ratio of 3.78 and a beta of 2.06.

AG Mortgage Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.57%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, June 28th. AG Mortgage Investment Trust’s payout ratio is currently 43.68%.

Wall Street Analyst Weigh In

MITT has been the topic of several research reports. JMP Securities boosted their price target on shares of AG Mortgage Investment Trust from $7.00 to $7.50 and gave the stock a “market outperform” rating in a research report on Thursday, May 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. Jonestrading restated a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

AG Mortgage Investment Trust Profile

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.