AG Mortgage Investment Trust (NYSE:MITT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

AG Mortgage Investment Trust, Inc. (NYSE:MITT) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.12 and traded as high as $8.17. AG Mortgage Investment Trust shares last traded at $8.0850, with a volume of 203,452 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Friday, May 1st. BTIG Research raised AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Wednesday, June 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Friday, April 17th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.14.

AG Mortgage Investment Trust Price Performance

The company has a debt-to-equity ratio of 23.76, a current ratio of 10.33 and a quick ratio of 10.33. The company has a 50 day moving average price of $7.81 and a 200 day moving average price of $8.12. The firm has a market cap of $257.10 million, a PE ratio of 20.21 and a beta of 1.63.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $6.47 million for the quarter, compared to analyst estimates of $21.97 million. AG Mortgage Investment Trust had a net margin of 6.71% and a return on equity of 15.02%. Sell-side analysts expect that AG Mortgage Investment Trust, Inc. will post 1.09 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 240.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MITT. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 2,756 shares in the last quarter. Strs Ohio acquired a new stake in AG Mortgage Investment Trust in the first quarter valued at about $39,000. Kemnay Advisory Services Inc. purchased a new stake in AG Mortgage Investment Trust in the 4th quarter valued at approximately $40,000. Russell Investments Group Ltd. boosted its holdings in AG Mortgage Investment Trust by 103.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in AG Mortgage Investment Trust by 258.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares during the period. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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).