AG Mortgage Investment Trust, Inc. (MITT) to Distribute Quarterly Dividend of $0.24 on July 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, June 16th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.24 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date is Tuesday, June 30th.

AG Mortgage Investment Trust has increased its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. AG Mortgage Investment Trust has a dividend 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 research analysts expect AG Mortgage Investment Trust to earn $1.24 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 77.4%.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock opened at $8.09 on Friday. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76. The firm has a market capitalization of $257.39 million, a P/E ratio of 20.24 and a beta of 1.63. The business has a 50-day moving average of $7.82 and a 200-day moving average of $8.12. AG Mortgage Investment Trust has a 1 year low of $6.86 and a 1 year high of $9.27.

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

Analyst Ratings Changes

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

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).