AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 annualized dividend and a dividend yield of 10.28%. The ex-dividend date is Monday, March 31st. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.
AG Mortgage Investment Trust has a payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.6 %
Shares of NYSE:MITT traded up $0.05 during midday trading on Wednesday, hitting $7.79. 279,383 shares of the stock were exchanged, compared to its average volume of 225,328. The stock has a market cap of $230.90 million, a P/E ratio of 3.41 and a beta of 2.05. AG Mortgage Investment Trust has a twelve month low of $5.44 and a twelve month high of $7.95. The company has a 50 day moving average price of $7.02 and a 200-day moving average price of $7.12.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Jones Trading boosted their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.30.
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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