AG Mortgage Investment Trust, Inc. (MITT) to Issue Quarterly Dividend of $0.24 on April 30th

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, March 16th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.24 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 4.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23.

AG Mortgage Investment Trust has raised its dividend by an average of 0.6%annually over the last three years and has increased its dividend every year for the last 2 years. AG Mortgage Investment Trust has a payout ratio of 88.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 85.0%.

AG Mortgage Investment Trust Trading Down 2.6%

MITT stock opened at $7.30 on Friday. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27. The company has a market capitalization of $231.54 million, a PE ratio of 8.29 and a beta of 1.67. The company’s 50-day simple moving average is $8.21 and its 200 day simple moving average is $8.04. The company has a debt-to-equity ratio of 21.38, a quick ratio of 10.33 and a current ratio of 10.33.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%.The business had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.16 million. As a group, sell-side analysts anticipate that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

MITT has been the subject of a number of recent analyst reports. Citizens Jmp upped their target price on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research report on Thursday, January 22nd. JonesTrading boosted their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Finally, Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

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).