AG Mortgage Investment Trust, Inc. to Issue Quarterly Dividend of $0.19 (NYSE:MITT)

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.68%. The ex-dividend date of this dividend is Monday, September 30th.

AG Mortgage Investment Trust has a dividend payout ratio of 72.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 0.3 %

MITT stock traded down $0.02 during trading on Wednesday, hitting $7.85. The company had a trading volume of 21,036 shares, compared to its average volume of 227,341. The stock has a market cap of $231.37 million, a PE ratio of 4.53 and a beta of 2.05. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $7.94. The business has a 50-day moving average of $7.24 and a 200-day moving average of $6.65.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $99.82 million for the quarter, compared to analyst estimates of $17.00 million. AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. During the same period in the previous year, the company earned $0.08 earnings per share. Research analysts forecast that AG Mortgage Investment Trust will post 0.82 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MITT. Piper Sandler assumed coverage on AG Mortgage Investment Trust in a research note on Friday, July 26th. They set an “overweight” rating and a $9.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. JMP Securities raised their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, StockNews.com cut AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

About AG Mortgage Investment Trust

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.