AG Mortgage Investment Trust (NYSE:MITT) Upgraded to Buy at StockNews.com

AG Mortgage Investment Trust (NYSE:MITT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Jonestrading reissued a “buy” rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $7.00 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and a consensus price target of $7.25.

AG Mortgage Investment Trust Trading Up 7.5 %

MITT traded up $0.47 during midday trading on Monday, hitting $6.74. 451,921 shares of the company were exchanged, compared to its average volume of 201,584. The company’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $5.85. The firm has a market capitalization of $198.49 million, a price-to-earnings ratio of 3.87 and a beta of 1.98. AG Mortgage Investment Trust has a 1-year low of $4.82 and a 1-year high of $6.89.

Insider Activity at AG Mortgage Investment Trust

In related news, CEO Thomas Durkin purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average cost of $6.12 per share, with a total value of $306,000.00. Following the purchase, the chief executive officer now owns 372,832 shares of the company’s stock, valued at approximately $2,281,731.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MITT. Beach Point Capital Management LP increased its holdings in shares of AG Mortgage Investment Trust by 68.0% during the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after buying an additional 232,895 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $704,000. Wolverine Asset Management LLC increased its holdings in shares of AG Mortgage Investment Trust by 64.1% during the 4th quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after buying an additional 51,709 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth approximately $280,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth approximately $231,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

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.