AG Mortgage Investment Trust, Inc. (NYSE: MITT – Get a rating) received an average recommendation of “Hold” by the seven research firms that currently cover the stock, MarketBeat reports. One investment analyst rated the stock with a sell recommendation, two assigned a hold recommendation and two issued a buy recommendation on the company. The 12-month average target price among brokers who have hedged the stock over the past year is $11.38.
Several stock analysts have weighed in on the company. TheStreet downgraded AG Mortgage Investment Trust from a “c-” rating to a “d” rating in a Friday, May 27 research report. Keefe, Bruyette & Woods downgraded AG Mortgage Investment Trust from an “outperform” rating to a “market performer” rating and set a target price of $8.50 for the company. in a research report on Monday, July 18. Finally, Credit Suisse Group lowered its price target on AG Mortgage Investment Trust to $8.00 in a Friday, July 22 research report.
Insider buying and selling
In other news from AG Mortgage Investment Trust, Director Matthew Jozoff bought 8,000 shares of the company in a trade that took place on Friday August 5th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $59,280.00. Following the completion of the purchase, the administrator now directly owns 40,008 shares of the company, valued at $296,459.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 4.50% of the shares are held by insiders of the company.
Institutional investors weigh in on AG Mortgage Investment Trust
A number of institutional investors and hedge funds have recently increased or reduced their stakes in MITT. Angelo Gordon & CO. LP increased its stake in AG Mortgage Investment Trust by 217.4% in the fourth quarter. Angelo Gordon & CO. LP now owns 973,291 shares of the real estate investment trust worth $9,976,000 after purchasing an additional 666,668 shares in the last quarter. HBK Investments LP purchased a new stake in the shares of AG Mortgage Investment Trust during the fourth quarter for a value of approximately $6,150,000. Beach Point Capital Management LP increased its stake in shares of AG Mortgage Investment Trust by 31.6% during the second quarter. Beach Point Capital Management LP now owns 2,284,567 shares of the real estate investment trust worth $15,421,000 after purchasing an additional 548,009 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of AG Mortgage Investment Trust by 143.6% during the fourth quarter. Renaissance Technologies LLC now owns 353,700 shares of the real estate investment trust worth $3,625,000 after purchasing an additional 208,500 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of AG Mortgage Investment Trust by 9.0% during the first quarter. BlackRock Inc. now owns 873,721 shares of the real estate investment trust worth $8,126,000 after purchasing an additional 72,462 shares in the last quarter. Hedge funds and other institutional investors own 40.52% of the company’s shares.
AG Mortgage Investment Trust Stock Performance
MITT shares opened at $5.66 on Thursday. AG Mortgage Investment Trust has a fifty-two week low of $5.57 and a fifty-two week high of $13.49. The stock’s fifty-day moving average is $6.89 and its two-hundred-day moving average is $7.57. The company has a market capitalization of $127.36 million, a P/E ratio of -6.99 and a beta of 1.58.
AG Mortgage Investment Trust (NYSE: MITT – Get a rating) last released its quarterly earnings data on Wednesday, August 3. The real estate investment trust reported ($2.27) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.08) by ($2.19). AG Mortgage Investment Trust posted a positive return on equity of 11.37% and a negative net margin of 14.07%.
AG Mortgage Investment Trust announces dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31. Investors of record on Friday, September 30 will receive a dividend of $0.21 per share. This represents an annualized dividend of $0.84 and a yield of 14.84%. The ex-date of this dividend is Thursday, September 29. AG Mortgage Investment Trust’s payout ratio is -103.70%.
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-qualifying mortgages, loans not occupied by government-sponsored entities, re/non-performing loans, land-related financing and residential mortgage-backed securities. agency; and business investments.
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