AG Mortgage Investment Trust Upgraded to “Outperform” by Zacks (MITT)
AG Mortgage Investment Trust (NASDAQ:MITT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $19.90 price target on the stock. Zacks‘s price objective indicates a potential upside of 7.98% from the stock’s previous close.
Shares of AG Mortgage Investment Trust (NASDAQ:MITT) traded up 0.81% on Tuesday, hitting $18.58. 180,772 shares of the company’s stock traded hands. AG Mortgage Investment Trust has a 52 week low of $15.10 and a 52 week high of $19.58. The stock’s 50-day moving average is $18.95 and its 200-day moving average is $17.67. The company’s market cap is $527.3 million.
AG Mortgage Investment Trust (NASDAQ:MITT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.08.
The company also recently announced a quarterly dividend, which is scheduled for Monday, July 28th. Stockholders of record on Thursday, June 19th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 13.02%. The ex-dividend date is Tuesday, June 17th.
A number of other firms have also recently commented on MITT. Analysts at Credit Suisse raised their price target on shares of AG Mortgage Investment Trust from $17.50 to $18.50 in a research note on Tuesday, May 27th. They now have a “neutral” rating on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, May 8th. They now have a $20.00 price target on the stock, up previously from $19.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of AG Mortgage Investment Trust in a research note on Wednesday, May 7th. They now have a $19.50 price target on the stock, up previously from $19.25. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.48.
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.
To view Zacks’ full report, visit Zacks’ official website.
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