AG Mortgage Investment Trust (NYSE:MITT) Stock Crosses Above 200 Day Moving Average of $5.92

AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Rating)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.92 and traded as high as $6.60. AG Mortgage Investment Trust shares last traded at $6.54, with a volume of 83,869 shares.

Analyst Upgrades and Downgrades

MITT has been the subject of a number of research analyst reports. JMP Securities dropped their price target on AG Mortgage Investment Trust from $9.00 to $7.00 and set a “market outperform” rating for the company in a research report on Thursday, October 20th. Jonestrading cut their price target on shares of AG Mortgage Investment Trust from $13.00 to $8.00 in a research note on Monday, December 19th. Credit Suisse Group upgraded shares of AG Mortgage Investment Trust from an “underperform” rating to a “neutral” rating and set a $7.00 price objective on the stock in a research report on Monday, January 9th. Finally, StockNews.com started coverage on shares of AG Mortgage Investment Trust in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.63.

AG Mortgage Investment Trust Trading Down 0.2 %

The stock has a market capitalization of $144.29 million, a P/E ratio of -2.17 and a beta of 1.74. The stock’s fifty day moving average price is $5.91 and its two-hundred day moving average price is $5.92.

AG Mortgage Investment Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.72 annualized dividend and a yield of 11.01%. AG Mortgage Investment Trust’s payout ratio is -23.92%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in AG Mortgage Investment Trust by 81.2% during the 1st quarter. Bank of New York Mellon Corp now owns 47,903 shares of the real estate investment trust’s stock worth $446,000 after acquiring an additional 21,470 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at approximately $113,000. BlackRock Inc. grew its holdings in shares of AG Mortgage Investment Trust by 9.0% in the first quarter. BlackRock Inc. now owns 873,721 shares of the real estate investment trust’s stock worth $8,126,000 after purchasing an additional 72,462 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AG Mortgage Investment Trust by 0.5% in the first quarter. Vanguard Group Inc. now owns 907,606 shares of the real estate investment trust’s stock worth $8,441,000 after buying an additional 4,907 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new stake in AG Mortgage Investment Trust during the 1st quarter valued at $98,000. Institutional investors own 39.66% of the company’s stock.

AG Mortgage Investment Trust Company Profile

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AG Mortgage Investment Trust, Inc is a real estate investment trust, which focuses on investing, acquiring, and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The firm conducts its business through the following segments: Securities and Loans and Single-Family Rental Properties.