AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above 200-Day Moving Average of $6.54

AG Mortgage Investment Trust, Inc. (NYSE:MITTGet Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.54 and traded as high as $7.44. AG Mortgage Investment Trust shares last traded at $7.44, with a volume of 146,000 shares changing hands.

Wall Street Analyst Weigh In

MITT has been the topic of several research analyst reports. JMP Securities raised their price objective on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods restated 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 initiated coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, StockNews.com cut shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Check Out Our Latest Report on MITT

AG Mortgage Investment Trust Trading Down 1.2 %

The firm’s fifty day moving average price is $7.08 and its 200-day moving average price is $6.55. The company has a market cap of $216.63 million, a price-to-earnings ratio of 4.22 and a beta of 2.06.

AG Mortgage Investment Trust (NYSE:MITTGet 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 analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million for the quarter, compared to the consensus estimate of $17.00 million. AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. During the same quarter last year, the company posted $0.08 EPS. As a group, research analysts anticipate that AG Mortgage Investment Trust, Inc. will post 0.82 EPS for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were issued a $0.19 dividend. The ex-dividend date was Friday, June 28th. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.34%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

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

AG Mortgage Investment Trust Company Profile

(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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