AG Mortgage Investment Trust (NYSE:MITT) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.13 and traded as high as $7.78. AG Mortgage Investment Trust shares last traded at $7.67, with a volume of 181,891 shares.

Wall Street Analyst Weigh In

MITT has been the subject of several recent research reports. Jones Trading upped their price target on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a “buy” rating in a report on Monday, March 3rd. JMP Securities restated a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, AG Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

AG Mortgage Investment Trust Stock Performance

The firm has a market cap of $226.15 million, a price-to-earnings ratio of 3.34 and a beta of 2.05. The business’s 50-day moving average is $7.20 and its 200-day moving average is $7.14.

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

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 10.49%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19. AG Mortgage Investment Trust’s dividend payout ratio is currently 65.04%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in shares of AG Mortgage Investment Trust by 98.1% in the fourth quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 2,739 shares in the last quarter. Quarry LP boosted its position in AG Mortgage Investment Trust by 158.9% in the 4th quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 3,914 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of AG Mortgage Investment Trust by 43.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 2,231 shares during the period. LPL Financial LLC acquired a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at $70,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at $70,000. 27.32% of the stock is owned by institutional investors.

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.