Raymond James Financial Inc. bought a new stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT – Free Report) in the 4th quarter, HoldingsChannel reports. The fund bought 113,006 shares of the real estate investment trust’s stock, valued at approximately $751,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in AG Mortgage Investment Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 85,512 shares of the real estate investment trust’s stock valued at $642,000 after purchasing an additional 4,036 shares during the last quarter. State Street Corp grew its holdings in AG Mortgage Investment Trust by 2.2% in the 3rd quarter. State Street Corp now owns 344,830 shares of the real estate investment trust’s stock worth $2,655,000 after buying an additional 7,587 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in AG Mortgage Investment Trust in the 3rd quarter valued at approximately $86,000. Jane Street Group LLC bought a new stake in AG Mortgage Investment Trust during the 3rd quarter valued at $94,000. Finally, Barclays PLC grew its stake in shares of AG Mortgage Investment Trust by 54.7% in the third quarter. Barclays PLC now owns 48,778 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 17,243 shares in the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.
AG Mortgage Investment Trust Stock Down 5.0 %
Shares of AG Mortgage Investment Trust stock opened at $6.69 on Friday. AG Mortgage Investment Trust, Inc. has a 12-month low of $5.44 and a 12-month high of $7.95. The firm has a market capitalization of $198.42 million, a PE ratio of 2.93 and a beta of 2.05. The stock’s fifty day moving average is $7.28 and its 200-day moving average is $7.12.
AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) last released its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The firm had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $18.44 million. Analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 EPS for the current year.
AG Mortgage Investment Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.20 dividend. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 11.96%. The ex-dividend date of this dividend is Monday, March 31st. AG Mortgage Investment Trust’s dividend payout ratio is currently 65.04%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $8.50 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Jones Trading boosted their price objective on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.30.
View Our Latest Report on MITT
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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