AG Mortgage Investment Trust, Inc. (MITT) Given Average Rating of “Buy” by Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.17.

A number of analysts recently issued reports on the company. BidaskClub raised AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. ValuEngine raised AG Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of AG Mortgage Investment Trust in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th.

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A number of hedge funds and other institutional investors have recently made changes to their positions in MITT. Wells Fargo & Company MN increased its position in AG Mortgage Investment Trust by 9.3% during the first quarter. Wells Fargo & Company MN now owns 38,319 shares of the real estate investment trust’s stock worth $692,000 after buying an additional 3,263 shares during the last quarter. Bank of New York Mellon Corp increased its position in AG Mortgage Investment Trust by 6.8% during the first quarter. Bank of New York Mellon Corp now owns 129,015 shares of the real estate investment trust’s stock worth $2,329,000 after buying an additional 8,167 shares during the last quarter. Comerica Bank acquired a new position in AG Mortgage Investment Trust during the first quarter worth approximately $232,000. Karp Capital Management Corp acquired a new position in AG Mortgage Investment Trust during the first quarter worth approximately $841,000. Finally, Ameriprise Financial Inc. acquired a new position in AG Mortgage Investment Trust during the first quarter worth approximately $751,000. 64.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AG Mortgage Investment Trust (NYSE:MITT) traded down 1.13% during midday trading on Friday, hitting $19.22. The stock had a trading volume of 125,103 shares. The firm’s 50-day moving average price is $19.31 and its 200-day moving average price is $18.71. The firm has a market capitalization of $534.85 million, a PE ratio of 5.93 and a beta of 0.91. AG Mortgage Investment Trust has a one year low of $14.61 and a one year high of $19.70.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. The business had revenue of $31.22 million for the quarter, compared to the consensus estimate of $21.76 million. AG Mortgage Investment Trust had a return on equity of 11.97% and a net margin of 85.21%. AG Mortgage Investment Trust’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, equities analysts predict that AG Mortgage Investment Trust will post $1.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 9.89%. The ex-dividend date is Thursday, September 28th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 58.82%.

About AG Mortgage Investment Trust

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