AG Mortgage Investment Trust (NYSE:MITT) Price Target Raised to $8.50

AG Mortgage Investment Trust (NYSE:MITT) had its price target lifted by JMP Securities from $7.50 to $8.50 in a research report sent to investors on Friday, Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. Jonestrading reaffirmed a buy rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. Finally, StockNews.com raised AG Mortgage Investment Trust from a hold rating to a buy rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $7.75.

AG Mortgage Investment Trust Stock Up 0.7 %

Shares of NYSE:MITT opened at $7.51 on Friday. The stock has a market cap of $221.32 million, a price-to-earnings ratio of 4.32 and a beta of 2.06. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.65. The business’s 50 day moving average is $6.87 and its 200 day moving average is $6.35.

AG Mortgage Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.19 per share. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 10.12%. The ex-dividend date of this dividend is Friday, June 28th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of MITT. Nisa Investment Advisors LLC lifted its holdings in AG Mortgage Investment Trust by 37.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,718 shares during the period. Naviter Wealth LLC bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at $83,000. Allworth Financial LP bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at $87,000. Napa Wealth Management bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at $96,000. Finally, Transcend Capital Advisors LLC raised its stake in shares of AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 2,500 shares during the period. 27.32% of the stock is currently owned by institutional investors.

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.