AG Mortgage Investment Trust, Inc. (MITT) To Go Ex-Dividend on March 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) 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.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $22.00 million for the quarter, compared to analyst estimates of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. On average, equities research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

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.