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

Jonestrading reissued 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.

Several other equities analysts have also recently issued reports on MITT. Keefe, Bruyette & Woods raised their price target on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a market perform rating in a report on Thursday, February 29th. JMP Securities restated a market outperform rating and set a $7.00 target price on shares of AG Mortgage Investment Trust in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of Moderate Buy and a consensus target price of $7.25.

AG Mortgage Investment Trust Trading Up 8.9 %

AG Mortgage Investment Trust stock traded up $0.51 during mid-day trading on Friday, hitting $6.27. The stock had a trading volume of 489,495 shares, compared to its average volume of 140,078. The stock has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $5.83. The stock has a market capitalization of $184.65 million, a PE ratio of 3.99 and a beta of 1.98. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $6.89.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 11.48%. The ex-dividend date was Wednesday, March 27th. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 45.86%.

Insiders Place Their Bets

In other AG Mortgage Investment Trust news, CEO Thomas Durkin acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the transaction, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in 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 valued at $64,000 after purchasing 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 about $83,000. Barclays PLC acquired a new stake in shares of AG Mortgage Investment Trust in the third quarter valued at about $86,000. Allworth Financial LP bought a new stake in AG Mortgage Investment Trust during the fourth quarter worth about $87,000. Finally, Napa Wealth Management acquired a new position in AG Mortgage Investment Trust during the fourth quarter valued at approximately $96,000. 27.32% of the stock is 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.