AG Mortgage Investment Trust’s (MITT) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research note released on Thursday, Benzinga reports. JMP Securities currently has a $7.00 price objective on the real estate investment trust’s stock.

Separately, Keefe, Bruyette & Woods lifted their price target on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a market perform rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust has a consensus rating of Moderate Buy and an average price target of $7.25.

AG Mortgage Investment Trust Trading Up 1.1 %

NYSE:MITT opened at $5.56 on Thursday. The stock has a market cap of $163.74 million, a P/E ratio of 3.54 and a beta of 1.98. The stock has a 50 day simple moving average of $5.95 and a 200 day simple moving average of $5.80. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $6.89.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. This represents a $0.72 annualized dividend and a yield of 12.95%. AG Mortgage Investment Trust’s payout ratio is currently 45.86%.

Insider Buying and Selling at AG Mortgage Investment Trust

In related news, CEO Thomas Durkin acquired 50,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $6.12 per share, with a total value of $306,000.00. Following the acquisition, the chief executive officer now directly owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Naviter Wealth LLC increased its stake in shares of AG Mortgage Investment Trust by 30.9% in the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AG Mortgage Investment Trust by 50.8% in the 4th quarter. Vanguard Group Inc. now owns 1,534,629 shares of the real estate investment trust’s stock valued at $9,745,000 after purchasing an additional 516,726 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of AG Mortgage Investment Trust by 23.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 73,805 shares of the real estate investment trust’s stock valued at $469,000 after purchasing an additional 14,181 shares during the last quarter. Napa Wealth Management bought a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at $96,000. Finally, Barclays PLC increased its stake in shares of AG Mortgage Investment Trust by 44.6% in the 4th quarter. Barclays PLC now owns 22,507 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 6,940 shares during the last quarter. 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.