AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.
Other research analysts have also issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, April 18th. Keefe, Bruyette & Woods upped their price target on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Finally, Jonestrading reissued a “buy” rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and an average target price of $7.38.
Check Out Our Latest Research Report on MITT
AG Mortgage Investment Trust Price Performance
NYSE:MITT opened at $6.81 on Monday. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $6.91. The company has a fifty day moving average price of $5.91 and a 200 day moving average price of $5.86. The stock has a market cap of $200.41 million, a P/E ratio of 3.91 and a beta of 1.98.
Insiders Place Their Bets
In related news, CEO Thomas Durkin acquired 50,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $6.12 per share, with a total value of $306,000.00. Following the completion of the acquisition, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.
Institutional Investors Weigh In On AG Mortgage Investment Trust
A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of AG Mortgage Investment Trust in the 3rd quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of AG Mortgage Investment Trust in the 3rd quarter worth approximately $126,000. GSA Capital Partners LLP boosted its holdings in shares of AG Mortgage Investment Trust by 6.5% in the 3rd quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust’s stock worth $832,000 after acquiring an additional 9,092 shares in the last quarter. Beach Point Capital Management LP boosted its holdings in shares of AG Mortgage Investment Trust by 68.0% in the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after acquiring an additional 232,895 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of AG Mortgage Investment Trust in the 4th quarter worth approximately $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.
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