AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Update
AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Rating) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 179,200 shares, a decrease of 16.8% from the August 15th total of 215,500 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 169,100 shares, the days-to-cover ratio is presently 1.1 days.
AG Mortgage Investment Trust Stock Performance
AG Mortgage Investment Trust stock traded up $0.27 during midday trading on Friday, reaching $5.94. The company’s stock had a trading volume of 290,981 shares, compared to its average volume of 235,233. AG Mortgage Investment Trust has a fifty-two week low of $5.57 and a fifty-two week high of $13.49. The firm has a market capitalization of $133.65 million, a PE ratio of -7.33 and a beta of 1.58. The stock’s 50 day simple moving average is $6.99 and its 200 day simple moving average is $7.61.
AG Mortgage Investment Trust (NYSE:MITT – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported ($2.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($2.19). AG Mortgage Investment Trust had a negative net margin of 14.07% and a positive return on equity of 11.37%.
AG Mortgage Investment Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 14.14%. The ex-dividend date is Thursday, September 29th. AG Mortgage Investment Trust’s dividend payout ratio is currently -103.70%.
Insiders Place Their Bets
In related news, Director Matthew Jozoff purchased 8,000 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were acquired at an average cost of $7.41 per share, with a total value of $59,280.00. Following the purchase, the director now directly owns 40,008 shares of the company’s stock, valued at $296,459.28. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in AG Mortgage Investment Trust during the 1st quarter valued at $50,000. ML & R Wealth Management LLC acquired a new position in AG Mortgage Investment Trust during the first quarter worth $93,000. Charles Schwab Investment Management Inc. acquired a new position in AG Mortgage Investment Trust during the first quarter worth $98,000. Acadian Asset Management LLC acquired a new position in AG Mortgage Investment Trust during the first quarter worth $113,000. Finally, Advisor Group Holdings Inc. increased its position in AG Mortgage Investment Trust by 48.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 19,983 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 6,556 shares during the last quarter. 40.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of AG Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and set a $8.50 price target on the stock. in a report on Monday, July 18th. Credit Suisse Group lowered their target price on shares of AG Mortgage Investment Trust to $8.00 in a research note on Friday, July 22nd. Finally, TheStreet lowered AG Mortgage Investment Trust from a “c-” rating to a “d” rating in a research note on Friday, May 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, AG Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $11.38.
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 comprises residential investments, including non-qualifying mortgages loans, government-sponsored entity non-owner occupied loans, re/non-performing loans, land related financing, and agency residential mortgage-backed securities; and commercial investments.
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