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

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given an average rating of “Moderate Buy” by the four brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.75.

A number of brokerages have recently issued reports on MITT. Jonestrading restated a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Piper Sandler assumed coverage on AG Mortgage Investment Trust in a report on Friday. They issued an “overweight” rating and a $9.00 target price for the company. StockNews.com upgraded AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Finally, JMP Securities boosted their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MITT. Janney Montgomery Scott LLC purchased a new position in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. Bank of New York Mellon Corp boosted its position in AG Mortgage Investment Trust by 105.4% in the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock worth $1,087,000 after purchasing an additional 84,037 shares during the last quarter. Wolverine Asset Management LLC boosted its position in AG Mortgage Investment Trust by 64.1% in 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 during the last quarter. Jump Financial LLC purchased a new position in AG Mortgage Investment Trust in the fourth quarter worth $280,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in AG Mortgage Investment Trust in the fourth quarter worth $231,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Price Performance

Shares of MITT opened at $7.39 on Friday. AG Mortgage Investment Trust has a 1 year low of $4.82 and a 1 year high of $7.65. The company has a market capitalization of $217.78 million, a price-to-earnings ratio of 4.25 and a beta of 2.06. The business has a 50-day moving average of $6.91 and a 200-day moving average of $6.38.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed 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 is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.76 annualized dividend and a dividend yield of 10.28%. AG Mortgage Investment Trust’s payout ratio is currently 43.68%.

About AG Mortgage Investment Trust

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.