AG Mortgage Investment (NYSE:MITT) announced a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.475 per share by the real estate investment trust on Monday, April 30th. This represents a $1.90 dividend on an annualized basis and a yield of 10.93%. The ex-dividend date of this dividend is Wednesday, March 28th.
AG Mortgage Investment has decreased its dividend by an average of 7.5% annually over the last three years. AG Mortgage Investment has a payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of MITT stock opened at $17.38 on Friday. The stock has a market capitalization of $490.05, a PE ratio of 9.20 and a beta of 0.70. AG Mortgage Investment has a fifty-two week low of $16.31 and a fifty-two week high of $19.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.03.
AG Mortgage Investment (NYSE:MITT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. AG Mortgage Investment had a return on equity of 11.23% and a net margin of 92.01%. The firm had revenue of $22.67 million for the quarter, compared to analyst estimates of $21.68 million. During the same period last year, the company earned $0.57 earnings per share. AG Mortgage Investment’s revenue for the quarter was down 2.4% compared to the same quarter last year.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.25 target price on shares of AG Mortgage Investment in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. AG Mortgage Investment presently has an average rating of “Hold” and a consensus price target of $18.25.
In related news, CFO Brian C. Sigman bought 7,200 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average cost of $17.09 per share, with a total value of $123,048.00. Following the purchase, the chief financial officer now directly owns 38,500 shares of the company’s stock, valued at approximately $657,965. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.57% of the company’s stock.
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About AG Mortgage Investment
AG Mortgage Investment Trust, Inc, a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage assets, other real estate-related securities, and financial assets. The company invests in residential mortgage-backed securities (RMBS) issued or guaranteed by a U.S.
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