AG Mortgage Investment Trust (NYSE:MITT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a report released on Tuesday.

Other equities analysts also recently issued reports about the company. Piper Sandler assumed coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They set an overweight rating and a $9.00 price target for the company. Keefe, Bruyette & Woods restated a market perform rating and set a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. JMP Securities raised their price target 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. Finally, Jonestrading restated a buy rating and set a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. One investment 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, the company has a consensus rating of Moderate Buy and an average target price of $8.00.

AG Mortgage Investment Trust Trading Up 0.6 %

MITT opened at $6.78 on Tuesday. The stock has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $6.45. The company has a market cap of $199.83 million, a price-to-earnings ratio of 3.90 and a beta of 2.06. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.86.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million during the quarter, compared to the consensus estimate of $17.00 million. AG Mortgage Investment Trust had a return on equity of 10.05% and a net margin of 20.84%. During the same quarter last year, the company posted $0.08 EPS. On average, analysts predict that AG Mortgage Investment Trust will post 0.89 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 28th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 11.21%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of large investors have recently made changes to their positions in MITT. Janney Montgomery Scott LLC bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter valued at approximately $704,000. Wolverine Asset Management LLC raised its holdings in AG Mortgage Investment Trust by 64.1% during the 4th quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 51,709 shares during the period. Jump Financial LLC bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at $280,000. Raymond James Financial Services Advisors Inc. bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at $231,000. Finally, Nisa Investment Advisors LLC grew its position in AG Mortgage Investment Trust by 37.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 2,718 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors.

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.