AG Mortgage Investment Trust (NYSE:MITT) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a buy rating to a hold rating in a research report released on Saturday.

MITT has been the subject of a number of other research reports. JMP Securities upped their price objective on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler began coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They set an “overweight” rating and a $9.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.00.

AG Mortgage Investment Trust Stock Performance

NYSE MITT opened at $6.92 on Friday. The firm has a 50 day simple moving average of $7.44 and a 200-day simple moving average of $7.02. The firm has a market cap of $203.92 million, a price-to-earnings ratio of 4.60 and a beta of 2.04. AG Mortgage Investment Trust has a one year low of $5.06 and a one year high of $7.95.

AG Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 10.99%. The ex-dividend date of this dividend was Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 49.03%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in shares of AG Mortgage Investment Trust in the second quarter valued at approximately $72,000. Algert Global LLC bought a new stake in AG Mortgage Investment Trust during the second quarter valued at $81,000. SG Americas Securities LLC acquired a new stake in AG Mortgage Investment Trust in the third quarter worth $93,000. Naviter Wealth LLC lifted its holdings in shares of AG Mortgage Investment Trust by 26.3% in the 2nd quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 4,450 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its position 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 valued at $148,000 after buying an additional 2,500 shares during the last quarter. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.