AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Consensus Rating of “Moderate Buy” by Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.9286.

A number of research firms have weighed in on MITT. Piper Sandler decreased their target price on shares of AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods dropped their price target on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, May 1st. BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, July 15th. Finally, JonesTrading lowered their target price on AG Mortgage Investment Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 10th.

AG Mortgage Investment Trust Stock Performance

Shares of NYSE MITT opened at $6.69 on Friday. The company has a debt-to-equity ratio of 22.56, a current ratio of 10.33 and a quick ratio of 10.33. The stock’s fifty day moving average price is $7.43 and its two-hundred day moving average price is $7.72. AG Mortgage Investment Trust has a one year low of $5.93 and a one year high of $9.27. The firm has a market cap of $212.74 million, a price-to-earnings ratio of 9.04 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $23.39 million for the quarter, compared to the consensus estimate of $26.13 million. AG Mortgage Investment Trust had a return on equity of 15.59% and a net margin of 8.55%. On average, equities analysts forecast that AG Mortgage Investment Trust will post 1.04 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.3%. The ex-dividend date was Tuesday, June 30th. AG Mortgage Investment Trust’s payout ratio is 129.73%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MITT. Bank of New York Mellon Corp bought a new position in AG Mortgage Investment Trust in the 2nd quarter valued at approximately $602,000. NewEdge Advisors LLC bought a new stake in AG Mortgage Investment Trust during the 1st quarter worth approximately $149,000. Bank of America Corp DE grew its holdings in AG Mortgage Investment Trust by 23.0% during the 1st quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock worth $311,000 after acquiring an additional 7,968 shares during the last quarter. Renaissance Technologies LLC increased its position in AG Mortgage Investment Trust by 3.5% in the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after acquiring an additional 10,255 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in AG Mortgage Investment Trust by 544.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 71,868 shares during the period. Institutional investors own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

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).