AG Mortgage Investment Trust (NYSE:MITT) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of AG Mortgage Investment Trust (NYSE:MITT - Free Report) from a buy rating to a hold rating in a report published on Saturday.

A number of other analysts also recently weighed in on the stock. JMP Securities raised their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a "market outperform" rating in a research report on Friday, July 19th. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an "overweight" rating and a $9.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.00.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock traded down $0.10 during mid-day trading on Friday, hitting $7.19. The stock had a trading volume of 154,095 shares, compared to its average volume of 124,763. AG Mortgage Investment Trust has a fifty-two week low of $5.06 and a fifty-two week high of $7.95. The company's 50-day simple moving average is $7.45 and its 200-day simple moving average is $6.98. The firm has a market cap of $212.03 million, a PE ratio of 4.64 and a beta of 2.04.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $99.82 million during the quarter, compared to analyst estimates 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 previous year, the firm posted $0.08 EPS. On average, analysts expect that AG Mortgage Investment Trust will post 0.84 EPS for the current year.

AG Mortgage Investment Trust Announces Dividend

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

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of MITT. The Manufacturers Life Insurance Company bought a new position in shares of AG Mortgage Investment Trust in the second quarter valued at $72,000. Algert Global LLC acquired a new position in shares of AG Mortgage Investment Trust in the 2nd quarter valued at $81,000. SG Americas Securities LLC purchased a new position in AG Mortgage Investment Trust in the 3rd quarter worth about $93,000. Naviter Wealth LLC raised its holdings in AG Mortgage Investment Trust by 26.3% during the 2nd quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust's stock worth $146,000 after buying an additional 4,450 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in AG Mortgage Investment Trust by 12.6% during the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust's stock valued at $148,000 after buying an additional 2,500 shares in the last quarter. 27.32% of the stock is currently owned by institutional investors.

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.