AG Mortgage Investment Trust (NYSE:MITT) Price Target Raised to $8.50

AG Mortgage Investment Trust (NYSE:MITT) had its price target hoisted by equities researchers at JMP Securities from $7.50 to $8.50 in a report released on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target would indicate a potential upside of 13.94% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Jonestrading reissued a “buy” rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Finally, StockNews.com raised AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.75.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $7.46 on Friday. The business’s 50-day simple moving average is $6.85 and its two-hundred day simple moving average is $6.34. The company has a market cap of $219.85 million, a PE ratio of 4.29 and a beta of 2.06. AG Mortgage Investment Trust has a fifty-two week low of $4.82 and a fifty-two week high of $7.65.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of AG Mortgage Investment Trust by 37.0% in the fourth 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 in the last quarter. Naviter Wealth LLC purchased a new position in shares of AG Mortgage Investment Trust in the fourth quarter valued at approximately $83,000. Allworth Financial LP purchased a new position in shares of AG Mortgage Investment Trust in the fourth quarter valued at approximately $87,000. Napa Wealth Management purchased a new position in shares of AG Mortgage Investment Trust in the fourth quarter valued at approximately $96,000. Finally, Transcend Capital Advisors LLC increased its holdings in shares of AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.