AG Mortgage Investment Trust’s (MITT) “Buy” Rating Reaffirmed at Jonestrading

Jonestrading reiterated their buy rating on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research note released on Friday, Benzinga reports. Jonestrading currently has a $8.00 price objective on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods increased their price target on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a market perform rating in a research report on Thursday, February 29th. JMP Securities reissued a market outperform rating and issued a $7.00 price objective on shares of AG Mortgage Investment Trust in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $7.25.

AG Mortgage Investment Trust Stock Up 7.5 %

NYSE:MITT opened at $6.74 on Friday. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $6.89. The firm has a market capitalization of $198.49 million, a price-to-earnings ratio of 3.87 and a beta of 1.98. The stock has a fifty day simple moving average of $5.89 and a 200 day simple moving average of $5.85.

AG Mortgage Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.68%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 41.38%.

Insider Transactions at AG Mortgage Investment Trust

In other news, CEO Thomas Durkin purchased 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was bought at an average cost of $6.12 per share, with a total value of $306,000.00. Following the purchase, 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 is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of AG Mortgage Investment Trust by 37.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 2,718 shares in the last quarter. Naviter Wealth LLC bought a new position in shares of AG Mortgage Investment Trust in the 4th quarter valued at approximately $83,000. Barclays PLC acquired a new stake in AG Mortgage Investment Trust in the 3rd quarter valued at approximately $86,000. Allworth Financial LP acquired a new stake in AG Mortgage Investment Trust in the 4th quarter valued at approximately $87,000. Finally, Napa Wealth Management acquired a new stake in AG Mortgage Investment Trust in the 4th quarter valued at approximately $96,000. 27.32% of the stock is owned by institutional investors.

About AG Mortgage Investment Trust

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.