AG Mortgage Investment Trust, Inc. (NYSE:MITT) Plans Quarterly Dividend of $0.19

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.63%. The ex-dividend date is Monday, September 30th.

AG Mortgage Investment Trust has a dividend payout ratio of 72.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Stock Up 0.3 %

Shares of AG Mortgage Investment Trust stock traded up $0.02 during midday trading on Wednesday, hitting $7.89. The company had a trading volume of 10,922 shares, compared to its average volume of 227,285. The stock has a market cap of $232.55 million, a price-to-earnings ratio of 4.53 and a beta of 2.05. The company has a fifty day simple moving average of $7.24 and a 200 day simple moving average of $6.65. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.94.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. During the same period in the previous year, the business earned $0.08 earnings per share. As a group, analysts expect that AG Mortgage Investment Trust will post 0.82 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on MITT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.50 price target on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. JMP Securities raised their price target on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

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.