AG Mortgage Investment Trust, Inc. to Issue Quarterly Dividend of $0.18 (NYSE:MITT)

AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Rating) announced a quarterly dividend on Wednesday, March 15th, Zacks reports. Shareholders of record on Friday, March 31st will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, April 28th. This represents a $0.72 dividend on an annualized basis and a yield of 13.58%. The ex-dividend date is Thursday, March 30th.

AG Mortgage Investment Trust has decreased its dividend payment by an average of 47.8% per year over the last three years. AG Mortgage Investment Trust has a payout ratio of 91.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

AG Mortgage Investment Trust Trading Up 2.9 %

Shares of NYSE:MITT opened at $5.30 on Friday. The stock has a market capitalization of $112.41 million, a PE ratio of -1.76 and a beta of 1.85. The firm has a 50 day moving average of $6.21 and a 200-day moving average of $5.63. AG Mortgage Investment Trust has a 12 month low of $3.52 and a 12 month high of $9.65.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds have recently made changes to their positions in MITT. Vanguard Group Inc. raised its stake in shares of AG Mortgage Investment Trust by 2.0% during the third quarter. Vanguard Group Inc. now owns 980,192 shares of the real estate investment trust’s stock valued at $4,028,000 after acquiring an additional 19,024 shares during the last quarter. BlackRock Inc. raised its position in AG Mortgage Investment Trust by 9.0% during 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 during the last quarter. Marshall Wace LLP acquired a new position in AG Mortgage Investment Trust during the 3rd quarter worth about $774,000. Renaissance Technologies LLC lifted its holdings in AG Mortgage Investment Trust by 6.8% during the 4th quarter. Renaissance Technologies LLC now owns 108,300 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 6,900 shares during the period. Finally, State Street Corp grew its position in shares of AG Mortgage Investment Trust by 8.3% in the 3rd quarter. State Street Corp now owns 80,399 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 6,152 shares during the last quarter. 39.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Credit Suisse Group upgraded AG Mortgage Investment Trust from an “underperform” rating to a “neutral” rating and set a $7.00 target price for the company in a research note on Monday, January 9th. StockNews.com initiated coverage on AG Mortgage Investment Trust in a research note on Thursday. They issued a “hold” rating on the stock. Jonestrading decreased their target price on AG Mortgage Investment Trust from $13.00 to $8.00 in a research report on Monday, December 19th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of AG Mortgage Investment Trust from $7.75 to $6.50 and set a “market perform” rating on the stock in a research note on Wednesday, March 8th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, AG Mortgage Investment Trust has a consensus rating of “Hold” and a consensus price target of $7.13.

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.