AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.00 Average Target Price from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.00.

A number of analysts have issued reports on the company. JMP Securities lifted their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. StockNews.com cut AG Mortgage Investment Trust from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Piper Sandler started coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an "overweight" rating and a $9.00 price target for the company.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock traded down $0.10 during trading hours on Friday, reaching $7.19. 154,095 shares of the stock were exchanged, compared to its average volume of 124,763. The business's fifty day moving average is $7.45 and its two-hundred day moving average is $6.99. The firm has a market capitalization of $212.03 million, a P/E ratio of 4.64 and a beta of 2.04. AG Mortgage Investment Trust has a 12-month low of $5.06 and a 12-month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million during the quarter, compared to analysts' expectations of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, equities research analysts predict that AG Mortgage Investment Trust will post 0.84 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 10.57%. The ex-dividend date of this dividend was Monday, September 30th. AG Mortgage Investment Trust's payout ratio is currently 49.03%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of AG Mortgage Investment Trust by 105.4% in the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust's stock valued at $1,087,000 after buying an additional 84,037 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at approximately $704,000. Renaissance Technologies LLC raised its stake in AG Mortgage Investment Trust by 34.6% during the 2nd quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust's stock valued at $3,715,000 after acquiring an additional 143,799 shares during the last quarter. LSV Asset Management acquired a new stake in AG Mortgage Investment Trust during the 2nd quarter worth approximately $1,110,000. Finally, Algert Global LLC purchased a new position in shares of AG Mortgage Investment Trust in the 2nd quarter valued at approximately $81,000. Hedge funds and other institutional investors own 27.32% of the company's stock.

About AG Mortgage Investment Trust

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.