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.
Internal activity
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
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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
(Get rating)
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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