AG Mortgage Investment Trust (NYSE:MITT – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported ($2.27) earnings per share for the quarter, missing the consensus estimate 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 Price Performance
Shares of NYSE:MITT opened at $4.86 on Friday. The company has a market cap of $109.35 million, a P/E ratio of -6.00 and a beta of 1.68. AG Mortgage Investment Trust has a 1 year low of $3.52 and a 1 year high of $13.49. The stock’s fifty day moving average price is $5.16 and its 200-day moving average price is $6.70.
AG Mortgage Investment Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 17.28%. The ex-dividend date is Thursday, September 29th. AG Mortgage Investment Trust’s payout ratio is -103.70%.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Credit Suisse Group cut their price target on AG Mortgage Investment Trust to $7.00 in a report on Thursday, October 13th. Keefe, Bruyette & Woods lowered AG Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and set a $8.50 price objective for the company. in a research note on Monday, July 18th. JMP Securities lowered their price objective on AG Mortgage Investment Trust from $9.00 to $7.00 and set a “market outperform” rating for the company in a research note on Thursday, October 20th. Finally, StockNews.com began coverage on AG Mortgage Investment Trust in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.25.
Insider Buying and Selling
In other news, Director Matthew Jozoff purchased 8,000 shares of the stock in a transaction 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 transaction, the director now owns 40,008 shares in the company, valued at approximately $296,459.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On AG Mortgage Investment Trust
Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. purchased a new stake in AG Mortgage Investment Trust during the 1st quarter worth approximately $98,000. Acadian Asset Management LLC acquired a new position in AG Mortgage Investment Trust in the first quarter valued at approximately $113,000. Northern Trust Corp lifted its stake in 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 worth $425,000 after purchasing an additional 13,473 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in AG Mortgage Investment Trust by 81.2% during the first quarter. Bank of New York Mellon Corp now owns 47,903 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 21,470 shares in the last quarter. Finally, State Street Corp lifted its stake in AG Mortgage Investment Trust by 33.1% during 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. Institutional investors and hedge funds own 40.52% of the company’s stock.
About AG Mortgage Investment Trust
AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio comprises residential investments, including non-qualifying mortgages loans, government-sponsored entity non-owner occupied loans, re/non-performing loans, land related financing, and agency residential mortgage-backed securities; and commercial investments.
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