AG Mortgage Investment Trust (NYSE:MITT) Posts Earnings Results, Misses Estimates By $0.01 EPS

AG Mortgage Investment Trust (NYSE:MITT) released its quarterly earnings results on Friday. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01), Zacks reports. The company had revenue of $99.82 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.08 earnings per share.

AG Mortgage Investment Trust Stock Down 9.2 %

Shares of MITT traded down $0.70 during mid-day trading on Friday, reaching $6.90. The company had a trading volume of 596,340 shares, compared to its average volume of 231,181. The stock has a market capitalization of $203.34 million, a P/E ratio of 3.97 and a beta of 2.06. AG Mortgage Investment Trust has a 52-week low of $4.82 and a 52-week high of $7.86. The stock has a 50 day moving average of $7.00 and a two-hundred day moving average of $6.43.

AG Mortgage Investment Trust Increases Dividend

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

Wall Street Analysts Forecast Growth

MITT has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target on the stock. StockNews.com upgraded AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Jonestrading reaffirmed a “buy” rating and set a $8.00 target price on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Finally, JMP Securities upped their price objective 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. 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 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.