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

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods raised their price objective on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a market perform rating in a research report on Thursday, February 29th. Jonestrading reissued a buy rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday. Finally, JMP Securities reaffirmed 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $7.25.

AG Mortgage Investment Trust Stock Up 7.5 %

MITT opened at $6.74 on Monday. AG Mortgage Investment Trust has a 52 week low of $4.82 and a 52 week high of $6.89. The stock has a market cap of $198.49 million, a PE ratio of 3.87 and a beta of 1.98. The business has a 50 day moving average of $5.89 and a 200-day moving average of $5.85.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.18 per share. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. This represents a $0.72 dividend on an annualized basis and a yield of 10.68%. The ex-dividend date of this dividend was Wednesday, March 27th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 41.38%.

Insiders Place Their Bets

In other news, CEO Thomas Durkin purchased 50,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 372,832 shares in the company, valued at approximately $2,281,731.84. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in AG Mortgage Investment Trust by 37.0% in 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 in the last quarter. Naviter Wealth LLC purchased a new stake in shares of AG Mortgage Investment Trust during the 4th quarter valued at about $83,000. Barclays PLC bought a new stake in shares of AG Mortgage Investment Trust in the third quarter worth approximately $86,000. Allworth Financial LP bought a new stake in shares of AG Mortgage Investment Trust in the fourth quarter worth approximately $87,000. Finally, Napa Wealth Management purchased a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

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.