Bank of New York Mellon Corp Buys 84,037 Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Bank of New York Mellon Corp lifted its holdings in AG Mortgage Investment Trust, Inc. (NYSE:MITT - Free Report) by 105.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,754 shares of the real estate investment trust's stock after acquiring an additional 84,037 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of AG Mortgage Investment Trust worth $1,087,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in AG Mortgage Investment Trust in the 1st quarter worth approximately $704,000. Jump Financial LLC acquired a new position in AG Mortgage Investment Trust in the 4th quarter worth about $280,000. Napa Wealth Management acquired a new stake in AG Mortgage Investment Trust in the fourth quarter valued at approximately $96,000. Naviter Wealth LLC increased its holdings in shares of AG Mortgage Investment Trust by 30.9% during the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust's stock valued at $107,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in shares of AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust's stock worth $148,000 after buying an additional 2,500 shares during the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Trading Down 1.6 %

NYSE MITT traded down $0.13 during mid-day trading on Friday, hitting $7.78. The company's stock had a trading volume of 391,983 shares, compared to its average volume of 228,881. AG Mortgage Investment Trust, Inc. has a twelve month low of $4.82 and a twelve month high of $7.95. The firm has a market capitalization of $229.31 million, a price-to-earnings ratio of 4.47 and a beta of 2.05. The company's 50 day simple moving average is $7.29 and its 200 day simple moving average is $6.68.

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last released its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. The business had revenue of $99.82 million during the quarter, compared to the consensus estimate of $17.00 million. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, research analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.82 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 9.77%. AG Mortgage Investment Trust's payout ratio is currently 43.68%.

Wall Street Analysts Forecast Growth

MITT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. Piper Sandler assumed coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an "overweight" rating and a $9.00 price target for the company. JMP Securities boosted their target price on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a "market outperform" rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded shares of AG Mortgage Investment Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $8.00.

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.