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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.81 and traded as high as $9.27. AG Mortgage Investment Trust shares last traded at $9.1820, with a volume of 298,426 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MITT. Jones Trading reissued a “buy” rating and set a $8.50 price target on shares of AG Mortgage Investment Trust in a research note on Tuesday, November 4th. Keefe, Bruyette & Woods increased their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 8th. Zacks Research raised shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.00.

AG Mortgage Investment Trust Price Performance

The stock has a fifty day moving average of $8.40 and a 200 day moving average of $7.81. The stock has a market cap of $291.47 million, a price-to-earnings ratio of 9.87 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $30.21 million for the quarter, compared to analyst estimates of $19.80 million. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. As a group, equities analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.23 per share. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, December 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.0%. AG Mortgage Investment Trust’s payout ratio is 98.92%.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors have recently modified their holdings of MITT. CWM LLC raised its position in shares of AG Mortgage Investment Trust by 173.6% during the 3rd quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,450 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,756 shares during the last quarter. Strs Ohio purchased a new stake in shares of AG Mortgage Investment Trust in the 1st quarter valued at approximately $39,000. Russell Investments Group Ltd. boosted its stake in AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 3,614 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in AG Mortgage Investment Trust by 258.4% in the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 6,460 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).