AG Mortgage Investment Trust, Inc. (NYSE:MITT) Increases Dividend to $0.20 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 annualized dividend and a dividend yield of 10.44%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.3% increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a payout ratio of 71.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Stock Performance

Shares of MITT traded down $0.19 during mid-day trading on Friday, hitting $7.67. 365,305 shares of the company's stock were exchanged, compared to its average volume of 225,789. The stock's 50-day moving average is $7.10 and its 200-day moving average is $7.13. AG Mortgage Investment Trust has a fifty-two week low of $5.44 and a fifty-two week high of $7.95. The company has a market cap of $227.34 million, a price-to-earnings ratio of 3.36 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The company had revenue of $22.00 million for the quarter, compared to analysts' expectations of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. As a group, equities research analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

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Analyst Upgrades and Downgrades

Several brokerages have commented on MITT. Jones Trading increased their price target on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Monday, March 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, AG Mortgage Investment Trust has an average rating of "Moderate Buy" and an average price target of $8.30.

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.