AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.80 and traded as high as $5.95. AG Mortgage Investment Trust shares last traded at $5.93, with a volume of 143,474 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods raised their target price on shares of 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.25.
Get Our Latest Analysis on AG Mortgage Investment Trust
AG Mortgage Investment Trust Stock Performance
The stock has a market capitalization of $174.64 million, a P/E ratio of 3.78 and a beta of 1.98. The company’s fifty day simple moving average is $6.04 and its two-hundred day simple moving average is $5.80.
AG Mortgage Investment Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.18 dividend. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.72 annualized dividend and a yield of 12.14%. AG Mortgage Investment Trust’s payout ratio is 45.86%.
Insiders Place Their Bets
In other news, CEO Thomas Durkin bought 50,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were purchased at an average cost of $6.12 per share, with a total value of $306,000.00. Following the acquisition, the chief executive officer now directly owns 372,832 shares in the company, valued at $2,281,731.84. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.
Institutional Investors Weigh In On AG Mortgage Investment Trust
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in AG Mortgage Investment Trust by 50.8% during the 4th quarter. Vanguard Group Inc. now owns 1,534,629 shares of the real estate investment trust’s stock worth $9,745,000 after acquiring an additional 516,726 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in AG Mortgage Investment Trust by 23.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 73,805 shares of the real estate investment trust’s stock worth $469,000 after acquiring an additional 14,181 shares during the last quarter. Napa Wealth Management bought a new stake in AG Mortgage Investment Trust during the 4th quarter worth approximately $96,000. Barclays PLC grew its holdings in AG Mortgage Investment Trust by 44.6% during the 4th quarter. Barclays PLC now owns 22,507 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 6,940 shares during the last quarter. Finally, Northern Right Capital Management L.P. bought a new stake in AG Mortgage Investment Trust during the 4th quarter worth approximately $3,715,000. 27.32% of the stock is owned by institutional investors.
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.
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