Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Rating ) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.38.
Several research firms recently commented on MITT. Keefe, Bruyette & Woods cut AG Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and set a $8.50 price objective on the stock. in a research note on Monday, July 18th. TheStreet cut AG Mortgage Investment Trust from a “c-” rating to a “d” rating in a research note on Friday, May 27th. StockNews.com lowered AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Finally, Credit Suisse Group dropped their target price on AG Mortgage Investment Trust to $8.00 in a research report on Friday, July 22nd.
Shares of Mortgage Investment Trust AG fall 1.8%
Shares of MITT opened at $6.66 on Friday. The firm has a market cap of $149.86 million, a PE ratio of -8.22 and a beta of 1.53. The business has a 50-day moving average of $7.27 and a 200-day moving average of $7.97. AG Mortgage Investment Trust has a 12-month low of $6.15 and a 12-month high of $13.49.
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AG Mortgage Investment Trust (NYSE:MITT – Get Rating ) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported ($2.27) EPS for the quarter, missing the consensus estimate of ($0.08) by ($2.19). AG Mortgage Investment Trust had a negative net margin of 14.07% and a positive return on equity of 11.37%.
AG Mortgage Investment Trust announces dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents an annual dividend of $0.84 and a dividend yield of 12.61%. AG Mortgage Investment Trust’s dividend payout ratio is currently -103.70%.
Insiders place their bets
In related news, Director Matthew Jozoff bought 8,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was bought at an average price of $7.41 per share, for a total transaction of $59,280.00. Following the completion of the transaction, the director now directly owns 40,008 shares in the company, valued at approximately $296,459.28. The transaction was disclosed in an SEC filing, which is available at this link. Company insiders own 4.50% of the company’s stock.
Institutional investors weigh in on Mortgage Investment Trust AG
Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at $41,000. Nisa Investment Advisors LLC purchased a new stake in shares of AG Mortgage Investment Trust in the 1st quarter valued at $50,000. ML & R Wealth Management LLC purchased a new stake in shares of AG Mortgage Investment Trust in the 1st quarter valued at $93,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of AG Mortgage Investment Trust in the 1st quarter valued at $98,000. Finally, Acadian Asset Management LLC purchased a new position in AG Mortgage Investment Trust in the first quarter valued at $113,000. Hedge funds and other institutional investors own 47.99% of the company’s shares.
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-qualified mortgage loans, foreclosed loans from government-sponsored entities, new/distressed loans, land financing and agency residential mortgage-backed securities; and commercial investments.
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