AG Mortgage Investment Trust (NYSE:MITT) Price Target Raised to $7.50 at Keefe, Bruyette & Woods

AG Mortgage Investment Trust (NYSE:MITT) had its price objective upped by Keefe, Bruyette & Woods from $7.00 to $7.50 in a research note released on Tuesday, Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

MITT has been the subject of a number of other research reports. Jonestrading restated a buy rating and set a $8.00 price objective on shares of AG Mortgage Investment Trust in a research report on Friday, May 3rd. JMP Securities reaffirmed a market outperform rating and set a $7.00 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, April 18th. Finally, StockNews.com raised shares of AG Mortgage Investment Trust from a hold rating to a buy rating in a research note on Monday. One equities 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.com, the company presently has an average rating of Moderate Buy and a consensus target price of $7.38.

AG Mortgage Investment Trust Stock Performance

MITT stock opened at $6.81 on Tuesday. The company has a market capitalization of $200.41 million, a PE ratio of 3.91 and a beta of 1.98. The company’s fifty day moving average price is $5.91 and its 200-day moving average price is $5.86. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $6.91.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.58%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. AG Mortgage Investment Trust’s payout ratio is 41.38%.

Insider Transactions at AG Mortgage Investment Trust

In other news, CEO Thomas Durkin acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average price of $6.12 per share, with a total value of $306,000.00. Following the completion of the purchase, the chief executive officer now directly owns 372,832 shares in the company, valued at $2,281,731.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in shares of AG Mortgage Investment Trust by 37.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,718 shares during the period. Naviter Wealth LLC purchased a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at approximately $83,000. Allworth Financial LP acquired a new position in shares of AG Mortgage Investment Trust during the 4th quarter worth approximately $87,000. Napa Wealth Management purchased a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at approximately $96,000. Finally, Barclays PLC purchased a new stake in AG Mortgage Investment Trust in the 3rd quarter worth $86,000. Institutional investors own 27.32% of the company’s stock.

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.