AG Mortgage Investment Trust, Inc. (NYSE: MITT – Get a rating) was the target of a sharp drop in short-term interest during August. As of August 15, there was short interest totaling 215,500 shares, down 37.1% from the July 31 total of 342,500 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume of 146,600 shares, the days-to-cover ratio is currently 1.5 days.
In other AG Mortgage Investment Trust news, Director Matthew Jozoff acquired 8,000 shares of AG Mortgage Investment Trust in a deal that took place on Friday August 5th. The shares were acquired at an average price of $7.41 per share, with a total value of $59,280.00. Following the purchase, the director now owns 40,008 shares of the company, valued at $296,459.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 4.50% of the shares are held by company insiders.
Institutional entries and exits
A number of institutional investors have recently changed their positions in MITT. Beach Point Capital Management LP increased its position in AG Mortgage Investment Trust by 31.6% during the second quarter. Beach Point Capital Management LP now owns 2,284,567 shares of the real estate investment trust worth $15,421,000 after acquiring an additional 548,009 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in AG Mortgage Investment Trust by 5.1% in Q2. Transcend Capital Advisors LLC now owns 35,000 shares of the real estate investment trust worth $236,000 after purchasing an additional 1,700 shares during the period. State Street Corp increased its holdings in AG Mortgage Investment Trust by 33.1% in the first quarter. State Street Corp now owns 76,547 shares of the REIT valued at $727,000 after buying an additional 19,050 shares last quarter. Northern Trust Corp increased its holdings of AG Mortgage Investment Trust shares by 41.8% in the first quarter. Northern Trust Corp now owns 45,732 shares of the real estate investment trust worth $425,000 after buying 13,473 more shares last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in the shares of AG Mortgage Investment Trust during the first quarter at a value of $98,000. 47.99% of the shares are held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
MITT has been the subject of several recent research reports. StockNews.com downgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “sell” rating in a Wednesday, May 11 research report. TheStreet downgraded shares of AG Mortgage Investment Trust from a “c-” rating to a “d” rating in a Friday, May 27 report. Credit Suisse Group cut its price target on shares of AG Mortgage Investment Trust to $8.00 in a Friday July 22 report. Finally, Keefe, Bruyette & Woods downgraded AG Mortgage Investment Trust shares from an “outperform” rating to a “market performer” rating and set a price target of $8.50 for the stock. . in a Monday July 18 research note. One research analyst rated the stock with a sell rating, two issued a hold rating and two issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.38.
Price performance of AG Mortgage Investment Trust
NYSE:MITT was down $0.12 during Friday trading hours, hitting $6.66. 144,085 shares were traded, against an average volume of 189,595. AG Mortgage Investment Trust has a 12-month low of $6.15 and a 12-month high of $13.49. The stock has a market capitalization of $149.86 million, a PE ratio of -8.22 and a beta of 1.53. The company has a 50-day moving average of $7.27 and a 200-day moving average of $7.98.
AG Mortgage Investment Trust (NYSE: MITT – Get a rating) last released its quarterly earnings data on Wednesday, August 3. The real estate investment trust reported ($2.27) EPS for the quarter, missing analyst consensus estimates of ($0.08) by ($2.19). AG Mortgage Investment Trust posted a positive return on equity of 11.37% and a negative net margin of 14.07%.
AG Mortgage Investment Trust announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Thursday, June 30 received a dividend of $0.21. The ex-dividend date was Wednesday, June 29. This represents an annualized dividend of $0.84 and a yield of 12.61%. AG Mortgage Investment Trust’s dividend payout ratio is -103.70%.
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-qualifying mortgages, non-occupied loans by government-sponsored entities, re/non-performing loans, land-related financing and residential mortgage-backed securities. agency; and business investments.
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