AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) 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.
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.
Get Our Latest Stock Analysis on MITT
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.
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