AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $7.78. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 181,891 shares trading hands.
Analysts Set New Price Targets
Several brokerages have recently commented on MITT. JMP Securities reiterated 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. Jones Trading raised their price target on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $8.30.
Get Our Latest Stock Report on AG Mortgage Investment Trust
AG Mortgage Investment Trust Stock Performance
The stock has a 50 day moving average of $7.22 and a 200 day moving average of $7.13. The stock has a market capitalization of $221.70 million, a P/E ratio of 3.28 and a beta of 2.05.
AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The firm had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. On average, research analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current fiscal year.
AG Mortgage Investment Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 10.70%. This is a positive change from AG Mortgage Investment Trust's previous quarterly dividend of $0.19. AG Mortgage Investment Trust's dividend payout ratio (DPR) is presently 65.04%.
Hedge Funds Weigh In On AG Mortgage Investment Trust
Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in AG Mortgage Investment Trust by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,790 shares of the real estate investment trust's stock valued at $305,000 after acquiring an additional 2,047 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AG Mortgage Investment Trust by 43.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 2,231 shares during the period. Russell Investments Group Ltd. raised its stake in shares of AG Mortgage Investment Trust by 98.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 2,739 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in AG Mortgage Investment Trust by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 35,620 shares of the real estate investment trust's stock worth $268,000 after purchasing an additional 2,839 shares during the period. Finally, Wells Fargo & Company MN grew its position in AG Mortgage Investment Trust by 28.9% in 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 buying an additional 3,827 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.
About AG Mortgage Investment Trust
(
Get Free Report)
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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