AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raises Dividend to $0.18 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Friday, March 15th, Zacks reports. Shareholders of record on Friday, March 29th will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.72 dividend on an annualized basis and a yield of 11.69%. The ex-dividend date is Wednesday, March 27th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05.

AG Mortgage Investment Trust has increased its dividend payment by an average of 99.9% annually over the last three years. AG Mortgage Investment Trust has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings.

AG Mortgage Investment Trust Price Performance

Shares of NYSE MITT remained flat at $6.16 during mid-day trading on Tuesday. The stock had a trading volume of 38,369 shares, compared to its average volume of 213,480. The firm has a market cap of $181.41 million, a price-to-earnings ratio of 3.92 and a beta of 1.98. The stock has a 50 day moving average price of $6.11 and a 200-day moving average price of $5.81. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $6.89.

Insiders Place Their Bets

In other AG Mortgage Investment Trust news, CEO Thomas Durkin bought 50,000 shares of AG Mortgage Investment Trust stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the transaction, the chief executive officer now directly owns 372,832 shares in the company, valued at $2,281,731.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in AG Mortgage Investment Trust by 175.1% in the first quarter. FMR LLC now owns 6,633 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 4,222 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AG Mortgage Investment Trust by 392,600.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,854 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 7,852 shares in the last quarter. Providence Capital Advisors LLC increased its position in shares of AG Mortgage Investment Trust by 475.0% during the 1st quarter. Providence Capital Advisors LLC now owns 9,580 shares of the real estate investment trust’s stock valued at $1,666,000 after purchasing an additional 7,914 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of AG Mortgage Investment Trust during the 3rd quarter valued at about $43,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in AG Mortgage Investment Trust in the 1st quarter worth approximately $98,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MITT. Keefe, Bruyette & Woods raised their price target on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. UBS Group began coverage on shares of AG Mortgage Investment Trust in a report on Wednesday, December 6th. They set a “buy” rating and a $7.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

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-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.