Citizens Jmp Raises AG Mortgage Investment Trust (NYSE:MITT) Price Target to $9.25

AG Mortgage Investment Trust (NYSE:MITT) had its target price hoisted by investment analysts at Citizens Jmp from $8.50 to $9.25 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective points to a potential upside of 4.72% from the stock’s current price.

MITT has been the subject of a number of other reports. Jones Trading restated a “buy” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Tuesday, November 4th. Wall Street Zen raised shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Credit Suisse Group set a $9.25 target price on shares of AG Mortgage Investment Trust in a research note on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.17.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $8.83 on Thursday. The company has a market capitalization of $280.36 million, a PE ratio of 9.50 and a beta of 1.65. AG Mortgage Investment Trust has a fifty-two week low of $5.63 and a fifty-two week high of $9.27. The firm has a 50 day moving average price of $8.51 and a 200 day moving average price of $7.85.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The company had revenue of $30.21 million for the quarter, compared to analysts’ expectations of $19.80 million. As a group, equities research analysts forecast that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Institutional Trading of AG Mortgage Investment Trust

A number of large investors have recently made changes to their positions in the company. Angelo Gordon & CO. L.P. increased its position in AG Mortgage Investment Trust by 703.3% during the third quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock worth $16,768,000 after buying an additional 2,027,676 shares during the period. Penserra Capital Management LLC purchased a new position in shares of AG Mortgage Investment Trust during the second quarter worth approximately $1,128,000. Voya Investment Management LLC increased its holdings in shares of AG Mortgage Investment Trust by 151.6% in the 1st quarter. Voya Investment Management LLC now owns 104,346 shares of the real estate investment trust’s stock valued at $762,000 after acquiring an additional 62,873 shares during the period. Prudential Financial Inc. increased its holdings in shares of AG Mortgage Investment Trust by 30.4% in the 2nd quarter. Prudential Financial Inc. now owns 255,724 shares of the real estate investment trust’s stock valued at $1,931,000 after acquiring an additional 59,631 shares during the period. Finally, LSV Asset Management raised its position in AG Mortgage Investment Trust by 23.6% in the 2nd quarter. LSV Asset Management now owns 291,580 shares of the real estate investment trust’s stock valued at $2,201,000 after purchasing an additional 55,635 shares during the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

AG Mortgage Investment Trust Company Profile

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).