AG Mortgage Investment Trust Upgraded to “Neutral” at Zacks (MITT)
AG Mortgage Investment Trust (NASDAQ:MITT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Stock Ratings News reports. The firm currently has a $16.70 price objective on the stock. Zacks‘ price objective suggests a potential upside of 2.90% from the stock’s previous close.
MITT has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of AG Mortgage Investment Trust from $20.00 to $19.00 in a research note to investors on Wednesday, September 11th. Separately, analysts at Compass Point reiterated a “buy” rating on shares of AG Mortgage Investment Trust in a research note to investors on Tuesday, August 20th. They now have a $20.00 price target on the stock, down previously from $27.50. Finally, analysts at Wunderlich cut their price target on shares of AG Mortgage Investment Trust from $24.00 to $18.50 in a research note to investors on Monday, August 12th. They now have a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. AG Mortgage Investment Trust currently has a consensus rating of “Hold” and an average target price of $19.71.
AG Mortgage Investment Trust (NASDAQ:MITT) traded down 0.49% on Tuesday, hitting $16.23. The stock had a trading volume of 241,378 shares. AG Mortgage Investment Trust has a 52 week low of $15.68 and a 52 week high of $26.94. The stock’s 50-day moving average is $17.02 and its 200-day moving average is $20.58. The company has a market cap of $460.5 million and a P/E ratio of 29.12.
AG Mortgage Investment Trust (NASDAQ:MITT) last released its earnings data on Wednesday, August 7th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $34.98 million for the quarter, compared to the consensus estimate of $15.43 million. The company’s revenue for the quarter was up 127.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 28th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 14.79%. The ex-dividend date is Tuesday, September 17th.
AG Mortgage Investment Trust, Inc is a real estate investment trust (NASDAQ:MITT) focused on investing in, acquiring and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets, which it refers to as its target assets.
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