AG Mortgage Investment Trust (NYSE:MITT) Issues Quarterly Earnings Results

AG Mortgage Investment Trust (NYSE:MITT) posted its quarterly earnings results on Friday. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01), Zacks reports. AG Mortgage Investment Trust had a net margin of 20.84% and a return on equity of 10.05%. The business had revenue of $99.82 million for the quarter, compared to analysts’ expectations of $17.00 million. During the same quarter in the previous year, the company earned $0.08 earnings per share.

AG Mortgage Investment Trust Stock Down 9.2 %

Shares of NYSE MITT traded down $0.70 on Friday, reaching $6.90. 596,340 shares of the company’s stock traded hands, compared to its average volume of 231,181. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $7.86. The business’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $6.43. The company has a market cap of $203.34 million, a price-to-earnings ratio of 3.97 and a beta of 2.06.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid 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 was Friday, June 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.01%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 43.68%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MITT. JMP Securities increased their target price on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Jonestrading reiterated a “buy” rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. StockNews.com upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Finally, Piper Sandler assumed coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They set an “overweight” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Company 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.