AG Mortgage Investment Trust (NYSE:MITT) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.13 and traded as high as $7.15. AG Mortgage Investment Trust shares last traded at $7.09, with a volume of 155,617 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

AG Mortgage Investment Trust Stock Down 1.7 %

The company has a market cap of $205.68 million, a price-to-earnings ratio of 3.06 and a beta of 2.01. The stock has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $7.13.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.90%. AG Mortgage Investment Trust’s payout ratio is currently 33.33%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of large investors have recently added to or reduced their stakes in the company. LSV Asset Management acquired a new position in AG Mortgage Investment Trust in the 2nd quarter worth $1,110,000. Renaissance Technologies LLC increased its position in shares of AG Mortgage Investment Trust by 34.6% during the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock worth $3,715,000 after acquiring an additional 143,799 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in shares of AG Mortgage Investment Trust by 189.6% in the third quarter. Wolverine Asset Management LLC now owns 185,997 shares of the real estate investment trust’s stock worth $1,397,000 after acquiring an additional 121,771 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AG Mortgage Investment Trust by 105.4% in the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after purchasing an additional 84,037 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in AG Mortgage Investment Trust by 53.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 162,891 shares of the real estate investment trust’s stock valued at $1,223,000 after purchasing an additional 57,042 shares in the last quarter. 27.32% of the stock is owned by institutional investors and hedge funds.

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.