AG Mortgage Investment Trust (NYSE:MITT) Research Coverage Started at Piper Sandler

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

A number of other research analysts have also recently weighed in on the company. StockNews.com upgraded AG Mortgage Investment Trust from a hold rating to a buy rating in a research report on Monday, May 6th. Keefe, Bruyette & Woods restated a market perform rating and set a $7.50 target price on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. JMP Securities upped their price target 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. Finally, 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, May 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $8.00.

AG Mortgage Investment Trust Price Performance

Shares of NYSE:MITT opened at $7.74 on Friday. The firm has a market capitalization of $228.10 million, a price-to-earnings ratio of 4.45 and a beta of 2.06. The business’s 50 day simple moving average is $6.93 and its 200-day simple moving average is $6.39. AG Mortgage Investment Trust has a 12 month low of $4.82 and a 12 month high of $7.74.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.82%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, June 28th. AG Mortgage Investment Trust’s payout ratio is 43.68%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in MITT. Bank of New York Mellon Corp increased its stake in AG Mortgage Investment Trust by 105.4% in the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after purchasing an additional 84,037 shares during the last quarter. Wolverine Asset Management LLC increased its stake in AG Mortgage Investment Trust by 64.1% in the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 51,709 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in AG Mortgage Investment Trust in the first quarter valued at $704,000. Jump Financial LLC acquired a new position in AG Mortgage Investment Trust in the fourth quarter valued at $280,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in AG Mortgage Investment Trust in the fourth quarter valued at $231,000. 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.