AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above Two Hundred Day Moving Average After Earnings Miss

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) crossed above its two hundred day moving average during trading on Friday following a better than expected earnings announcement. The stock has a two hundred day moving average of $6.43 and traded as high as $7.27. AG Mortgage Investment Trust shares last traded at $6.91, with a volume of 596,229 shares traded.

The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $99.82 million for the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a return on equity of 10.05% and a net margin of 20.84%. During the same period in the prior year, the business posted $0.08 earnings per share.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 28th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.01%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Piper Sandler assumed coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target on the stock. JMP Securities raised their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Jonestrading reaffirmed a “buy” rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of AG Mortgage Investment Trust by 37.0% in 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 in the last quarter. Naviter Wealth LLC acquired a new position in shares of AG Mortgage Investment Trust during the fourth quarter worth $83,000. Allworth Financial LP acquired a new position in shares of AG Mortgage Investment Trust during the fourth quarter worth $87,000. Napa Wealth Management acquired a new position in shares of AG Mortgage Investment Trust during the fourth quarter worth $96,000. Finally, Transcend Capital Advisors LLC grew its stake in shares of AG Mortgage Investment Trust by 12.6% during the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Price Performance

The business’s 50 day moving average is $7.00 and its 200 day moving average is $6.43. The stock has a market cap of $203.34 million, a price-to-earnings ratio of 3.97 and a beta of 2.06.

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.