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

by · The Markets Daily

AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $8.00.

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. Piper Sandler initiated coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price objective for the company. JMP Securities upped their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Finally, StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

Check Out Our Latest Stock Report on MITT

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Napa Wealth Management purchased a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $96,000. Naviter Wealth LLC boosted its holdings in AG Mortgage Investment Trust by 30.9% in the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4,000 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 1st quarter valued at approximately $704,000. Transcend Capital Advisors LLC raised its position in shares of AG Mortgage Investment Trust by 12.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in AG Mortgage Investment Trust by 105.4% in the 2nd 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 acquiring an additional 84,037 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Price Performance

MITT stock opened at $7.27 on Wednesday. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $7.95. The business has a fifty day moving average price of $7.27 and a 200-day moving average price of $6.84. The stock has a market capitalization of $214.28 million, a P/E ratio of 4.18 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) last posted its quarterly 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). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The business had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, analysts anticipate that AG Mortgage Investment Trust will post 0.84 earnings per share 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. Investors of record on Monday, September 30th will be paid a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 10.45%. AG Mortgage Investment Trust’s dividend payout ratio is presently 43.68%.

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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