AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.98 and traded as high as $6.98. AG Mortgage Investment Trust shares last traded at $6.89, with a volume of 70,316 shares changing hands.
Wall Street Analyst Weigh In
MITT has been the topic of a number of analyst reports. Jonestrading reiterated a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, April 18th. StockNews.com upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of AG Mortgage Investment Trust from $7.00 to $7.50 and gave the stock a “market perform” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.38.
Read Our Latest Research Report on MITT
AG Mortgage Investment Trust Stock Down 1.1 %
The business’s 50 day moving average is $6.06 and its 200-day moving average is $5.98. The firm has a market cap of $203.05 million, a P/E ratio of 3.96 and a beta of 1.98.
AG Mortgage Investment Trust Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.45%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, March 27th. AG Mortgage Investment Trust’s dividend payout ratio is 41.38%.
Insiders Place Their Bets
In other AG Mortgage Investment Trust news, CEO Thomas Durkin bought 50,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $6.12 per share, with a total value of $306,000.00. Following the completion of the acquisition, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On AG Mortgage Investment Trust
Several institutional investors have recently modified their holdings of MITT. Nisa Investment Advisors LLC grew its position in shares of AG Mortgage Investment Trust by 37.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,718 shares during the last quarter. Naviter Wealth LLC bought a new position in shares of AG Mortgage Investment Trust during the fourth quarter worth about $83,000. Barclays PLC bought a new position in AG Mortgage Investment Trust in the 3rd quarter valued at about $86,000. Allworth Financial LP bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at about $87,000. Finally, Napa Wealth Management bought a new position in AG Mortgage Investment Trust in the 4th quarter valued at about $96,000. Institutional investors own 27.32% of the company’s stock.
AG Mortgage Investment Trust Company Profile
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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