AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 402,600 shares, a drop of 26.0% from the December 31st total of 543,800 shares. Based on an average daily trading volume, of 257,300 shares, the short-interest ratio is currently 1.6 days. Currently, 1.5% of the shares of the stock are sold short.
AG Mortgage Investment Trust Price Performance
Shares of NYSE:MITT traded up $0.04 during trading on Tuesday, hitting $6.90. 94,043 shares of the company were exchanged, compared to its average volume of 258,515. The firm's 50 day moving average price is $6.77 and its 200-day moving average price is $7.08. AG Mortgage Investment Trust has a 12-month low of $5.44 and a 12-month high of $7.95. The stock has a market capitalization of $203.47 million, a P/E ratio of 3.02 and a beta of 2.00.
AG Mortgage Investment Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 11.02%. AG Mortgage Investment Trust's dividend payout ratio (DPR) is 33.33%.
Institutional Trading of AG Mortgage Investment Trust
Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new position in AG Mortgage Investment Trust in the 2nd quarter valued at $72,000. AlphaCore Capital LLC acquired a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $77,000. Algert Global LLC acquired a new position in AG Mortgage Investment Trust in the 2nd quarter valued at $81,000. Virtus Investment Advisers Inc. acquired a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $86,000. Finally, SG Americas Securities LLC acquired a new position in AG Mortgage Investment Trust in the 3rd quarter valued at $93,000. Hedge funds and other institutional investors own 27.32% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MITT shares. JMP Securities reaffirmed a "market outperform" rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. StockNews.com cut shares of AG Mortgage Investment Trust from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.25.
Read Our Latest Stock Report on MITT
About AG Mortgage Investment Trust
(
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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.
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