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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.66%. The ex-dividend date of this dividend is Tuesday, December 31st.

AG Mortgage Investment Trust has a payout ratio of 73.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE MITT traded down $0.10 on Tuesday, hitting $7.13. 208,259 shares of the company were exchanged, compared to its average volume of 216,922. AG Mortgage Investment Trust has a twelve month low of $5.44 and a twelve month high of $7.95. The firm has a market capitalization of $210.41 million, a P/E ratio of 3.13 and a beta of 2.01. The company’s 50 day moving average price is $7.06 and its 200-day moving average price is $7.12.

Analysts Set New Price Targets

Separately, StockNews.com lowered AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, AG Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

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.