AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Rating ) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 215,500 shares, a decrease of 37.1% from the July 31st total of 342,500 shares. Currently, 1.0% of the company’s stock is short sold. Based on an average daily trading volume of 146,600 shares, the days-to-cover ratio is currently 1.5 days.
In other AG Mortgage Investment Trust news, Director Matthew Jozoff purchased 8,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Friday, August 5th. The stock was bought at an average price of $7.41 per share, with a total value of $59,280.00. Following the purchase, the director now owns 40,008 shares in the company, valued at $296,459.28. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available through this link. 4.50% of the shares are owned by domestic corporations.
Institutional inflows and outflows
A number of institutional investors have recently made changes to their positions in MITT. Beach Point Capital Management LP raised its position in 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’s stock worth $15,421,000 after buying an additional 548,009 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in AG Mortgage Investment Trust by 5.1% in the second quarter. Transcend Capital Advisors LLC now owns 35,000 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 1,700 shares during the period. State Street Corp boosted its holdings in AG Mortgage Investment Trust by 33.1% in the first quarter. State Street Corp now owns 76,547 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 19,050 shares in the last quarter. Northern Trust Corp raised its holdings in shares of AG Mortgage Investment Trust by 41.8% during the first quarter. Northern Trust Corp now owns 45,732 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 13,473 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at $98,000. 47.99% of the shares are owned by institutional investors and hedge funds.
The Wall Street analyst weighs in
MITT has been the subject of several recent research reports. StockNews.com lowered shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. TheStreet lowered shares of AG Mortgage Investment Trust from a “c-” rating to a “d” rating in a report on Friday, May 27th. Credit Suisse Group dropped their price objective on shares of AG Mortgage Investment Trust to $8.00 in a report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods downgraded shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.38.
Price Performance of Mortgage Investment Trust AG
NYSE:MITT traded down $0.12 during trading hours on Friday, reaching $6.66. 144,085 shares of the stock traded hands, compared to its average volume of 189,595. AG Mortgage Investment Trust has a twelve month low of $6.15 and a twelve month high of $13.49. The stock has a market cap of $149.86 million, a PE ratio of -8.22 and a beta of 1.53. The firm has a 50-day moving average of $7.27 and a 200-day moving average of $7.98.
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 analysts’ consensus estimates of ($0.08) by ($2.19). AG Mortgage Investment Trust had a positive return on equity of 11.37% and a negative net margin of 14.07%.
AG Mortgage Investment Trust announces dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were paid a $0.21 dividend. The ex-dividend date was Wednesday, June 29th. This represents an annual dividend of $0.84 and a yield of 12.61%. AG Mortgage Investment Trust’s dividend 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-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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