Beach Point Capital Management LP lowered its position in AG Mortgage Investment Trust, Inc. (NYSE:MITT – Free Report) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,086,251 shares of the real estate investment trust’s stock after selling 226,756 shares during the period. AG Mortgage Investment Trust makes up about 5.3% of Beach Point Capital Management LP’s portfolio, making the stock its 9th largest position. Beach Point Capital Management LP owned approximately 10.30% of AG Mortgage Investment Trust worth $12,768,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in AG Mortgage Investment Trust in the third quarter valued at about $774,000. Balyasny Asset Management L.P. purchased a new position in shares of AG Mortgage Investment Trust in the 1st quarter valued at approximately $739,000. AlphaCentric Advisors LLC purchased a new position in shares of AG Mortgage Investment Trust in the 2nd quarter valued at approximately $642,000. BlackRock Inc. boosted its stake in AG Mortgage Investment Trust by 9.0% in the 1st 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 in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new stake in AG Mortgage Investment Trust during the 2nd quarter worth approximately $256,000. Institutional investors own 33.26% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on MITT shares. Jonestrading reiterated a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Tuesday, August 8th. StockNews.com started coverage on AG Mortgage Investment Trust in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.13.
AG Mortgage Investment Trust Price Performance
Shares of AG Mortgage Investment Trust stock remained flat at $5.24 during trading on Friday. 52,949 shares of the company traded hands, compared to its average volume of 88,206. The company has a market cap of $106.06 million, a PE ratio of 9.53 and a beta of 1.94. The firm’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $5.86. AG Mortgage Investment Trust, Inc. has a 12-month low of $4.82 and a 12-month high of $7.05.
AG Mortgage Investment Trust Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, November 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.32 annualized dividend and a dividend yield of 6.11%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 58.18%.
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 comprises residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities.
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