Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been assigned an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.17.
Separately, BidaskClub upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in AG Mortgage Investment Trust during the fourth quarter worth approximately $874,000. Schwab Charles Investment Management Inc. boosted its position in AG Mortgage Investment Trust by 11.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 149,381 shares of the real estate investment trust’s stock worth $2,840,000 after acquiring an additional 15,292 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in AG Mortgage Investment Trust during the third quarter worth approximately $961,000. Allianz Asset Management GmbH boosted its position in AG Mortgage Investment Trust by 49.3% during the third quarter. Allianz Asset Management GmbH now owns 478,488 shares of the real estate investment trust’s stock worth $9,206,000 after acquiring an additional 158,092 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in AG Mortgage Investment Trust during the third quarter worth approximately $252,000. Hedge funds and other institutional investors own 65.74% of the company’s stock.
AG Mortgage Investment Trust (MITT) traded up $0.08 during mid-day trading on Tuesday, hitting $18.48. 118,663 shares of the stock traded hands, compared to its average volume of 130,290. The firm has a market capitalization of $521.01, a price-to-earnings ratio of 9.43 and a beta of 0.91. AG Mortgage Investment Trust has a twelve month low of $17.05 and a twelve month high of $19.95. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.03.
AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The business had revenue of $21.60 million for the quarter, compared to analyst estimates of $21.65 million. AG Mortgage Investment Trust had a net margin of 74.99% and a return on equity of 11.21%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.90 dividend on an annualized basis and a yield of 10.28%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 66.43%.
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AG Mortgage Investment Trust Company Profile
AG Mortgage Investment Trust, Inc is a real estate investment trust (REIT). The Company focuses on investing in, acquiring and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets, which the Company refers to as its target assets. It also focuses on investing in residential mortgage-backed securities (RMBS) issued or guaranteed by a government-sponsored enterprise, such as The Federal National Mortgage Association (Fannie Mae) or The Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, GSEs), or any agency of the United States Government, such as The Government National Mortgage Association (Ginnie Mae) (collectively Agency RMBS), and other real estate-related securities and financial assets, including Non-Agency RMBS, asset backed securities (ABS), commercial mortgage-backed securities (CMBS) and loans.
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