AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.
Other analysts have also recently issued research reports about the stock. Piper Sandler assumed coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price objective on the stock. JMP Securities increased their price objective on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.00.
Check Out Our Latest Analysis on AG Mortgage Investment Trust
AG Mortgage Investment Trust Stock Down 1.5 %
AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) 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 business 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 last year, the company posted $0.08 earnings per share. Analysts predict that AG Mortgage Investment Trust will post 0.84 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AG Mortgage Investment Trust
Several large investors have recently bought and sold shares of MITT. Bank of New York Mellon Corp boosted its position in shares of AG Mortgage Investment Trust by 105.4% during the 2nd 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 in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of AG Mortgage Investment Trust in the first quarter worth about $704,000. Renaissance Technologies LLC boosted its holdings in shares of AG Mortgage Investment Trust by 34.6% in the second quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock worth $3,715,000 after buying an additional 143,799 shares during the period. LSV Asset Management acquired a new position in shares of AG Mortgage Investment Trust in the second quarter worth about $1,110,000. Finally, Algert Global LLC acquired a new position in shares of AG Mortgage Investment Trust in the second quarter worth about $81,000. Institutional investors and hedge funds own 27.32% of the company’s stock.
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.
Further Reading
- Five stocks we like better than AG Mortgage Investment Trust
- How to Choose Top Rated Stocks
- Texas Roadhouse Stock Steering for New Highs This Year
- The How And Why of Investing in Oil Stocks
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- Using the MarketBeat Dividend Tax Calculator
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Receive News & Ratings for AG Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AG Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.