AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.30 Average Price Target from Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) has earned an average rating of "Moderate Buy" from the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.30.

MITT has been the topic of a number of analyst reports. JMP Securities restated a "market outperform" rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading increased their price objective on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Monday, March 3rd.

AG Mortgage Investment Trust Price Performance

Shares of NYSE:MITT traded down $0.35 during trading on Tuesday, reaching $6.69. 334,377 shares of the stock were exchanged, compared to its average volume of 230,885. AG Mortgage Investment Trust has a 1-year low of $5.44 and a 1-year high of $7.95. The stock has a fifty day moving average of $7.28 and a two-hundred day moving average of $7.12. The firm has a market cap of $198.42 million, a price-to-earnings ratio of 2.93 and a beta of 2.05.

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

AG Mortgage Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 11.96%. AG Mortgage Investment Trust's payout ratio is 65.04%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of AG Mortgage Investment Trust by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust's stock worth $305,000 after buying an additional 2,047 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in AG Mortgage Investment Trust by 43.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 2,231 shares during the last quarter. Russell Investments Group Ltd. boosted its position in AG Mortgage Investment Trust by 98.1% in the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 2,739 shares during the last quarter. JPMorgan Chase & Co. grew its stake in AG Mortgage Investment Trust by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust's stock valued at $268,000 after purchasing an additional 2,839 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of AG Mortgage Investment Trust by 28.9% during the 4th quarter. Wells Fargo & Company MN now owns 17,084 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 3,827 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.