AG Mortgage Investment Trust (NYSE:MITT) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler started coverage on shares of AG Mortgage Investment Trust (NYSE:MITT) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $9.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also commented on MITT. JMP Securities raised their target price on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a market outperform rating in a report on Friday, July 19th. Jonestrading reissued a buy rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. Keefe, Bruyette & Woods reissued a market perform rating and issued a $7.50 target price on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Finally, StockNews.com raised shares of AG Mortgage Investment Trust from a hold rating to a buy rating in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $8.00.

AG Mortgage Investment Trust Stock Down 1.6 %

MITT stock opened at $7.62 on Friday. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $7.79. The firm has a market cap of $224.56 million, a P/E ratio of 4.38 and a beta of 2.06. The company’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $6.40.

AG Mortgage Investment Trust Increases Dividend

The business 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. The ex-dividend date is Friday, June 28th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 9.97%. AG Mortgage Investment Trust’s payout ratio is 43.68%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in MITT. Nisa Investment Advisors LLC boosted its position in AG Mortgage Investment Trust by 37.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,718 shares during the period. Naviter Wealth LLC acquired a new stake in AG Mortgage Investment Trust during the 4th quarter worth approximately $83,000. Allworth Financial LP acquired a new stake in AG Mortgage Investment Trust during the 4th quarter worth approximately $87,000. Napa Wealth Management acquired a new stake in AG Mortgage Investment Trust during the 4th quarter worth approximately $96,000. Finally, Transcend Capital Advisors LLC boosted its position in AG Mortgage Investment Trust by 12.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,500 shares during the period. 27.32% of the stock is currently owned by institutional investors and hedge funds.

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.