AG Mortgage Investment Trust (NYSE:MITT) Shares Pass Above 200 Day Moving Average – Here’s What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.12 and traded as high as $8.17. AG Mortgage Investment Trust shares last traded at $8.0850, with a volume of 203,452 shares.

Analysts Set New Price Targets

MITT has been the subject of a number of recent research reports. BTIG Research raised shares of AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, AG Mortgage Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of $9.14.

AG Mortgage Investment Trust Trading Up 0.3%

The stock has a market cap of $257.39 million, a PE ratio of 20.24 and a beta of 1.63. The company has a debt-to-equity ratio of 23.76, a quick ratio of 10.33 and a current ratio of 10.33. The stock has a fifty day moving average price of $7.82 and a 200 day moving average price of $8.12.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $6.47 million for the quarter, compared to analyst estimates of $21.97 million. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%. Equities analysts expect that AG Mortgage Investment Trust, Inc. will post 1.09 EPS for the current year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 240.00%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in AG Mortgage Investment Trust in the first quarter worth about $149,000. Bank of America Corp DE grew its stake in shares of AG Mortgage Investment Trust by 23.0% during the first quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 7,968 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of AG Mortgage Investment Trust by 3.5% during the first quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after buying an additional 10,255 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of AG Mortgage Investment Trust by 544.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 71,868 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of AG Mortgage Investment Trust by 13.7% in the first quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 4,279 shares during the period. 27.32% of the stock is currently owned by institutional investors.

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).