AG Mortgage Investment Trust (NYSE:MITT) Stock Passes Above 200 Day Moving Average – Here’s Why

AG Mortgage Investment Trust, Inc. (NYSE:MITTGet Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.97 and traded as high as $7.74. AG Mortgage Investment Trust shares last traded at $7.74, with a volume of 233,786 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MITT shares. Wall Street Zen raised shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Jones Trading reissued a “buy” rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, May 6th. Finally, UBS Group set a $8.00 target price on shares of AG Mortgage Investment Trust and gave the stock a “buy” rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of $8.38.

Read Our Latest Research Report on MITT

AG Mortgage Investment Trust Stock Up 2.5%

The business’s 50 day simple moving average is $6.93 and its two-hundred day simple moving average is $6.97. The stock has a market cap of $229.72 million, a P/E ratio of 8.70 and a beta of 1.55.

AG Mortgage Investment Trust (NYSE:MITTGet Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $18.67 million. AG Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 10.98%. As a group, research analysts forecast that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.85%. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.20. AG Mortgage Investment Trust’s payout ratio is presently 89.89%.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its stake in shares of AG Mortgage Investment Trust by 151.6% in the first quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock worth $762,000 after purchasing an additional 62,873 shares during the last quarter. Strs Ohio bought a new stake in shares of AG Mortgage Investment Trust in the first quarter worth $39,000. Acadian Asset Management LLC grew its stake in shares of AG Mortgage Investment Trust by 65.7% in the first quarter. Acadian Asset Management LLC now owns 286,304 shares of the real estate investment trust’s stock worth $2,089,000 after purchasing an additional 113,564 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of AG Mortgage Investment Trust in the first quarter worth $927,000. Finally, AlphaQuest LLC bought a new stake in shares of AG Mortgage Investment Trust in the first quarter worth $168,000. Institutional investors own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

(Get Free Report)

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.

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