AG Mortgage Investment Trust, Inc. (NYSE:MITT) Increases Dividend to $0.20 Per Share

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.28%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.6 %

Shares of NYSE MITT traded up $0.05 on Wednesday, reaching $7.79. 279,383 shares of the company traded hands, compared to its average volume of 225,328. AG Mortgage Investment Trust has a fifty-two week low of $5.44 and a fifty-two week high of $7.95. The stock has a market capitalization of $230.90 million, a PE ratio of 3.41 and a beta of 2.05. The company has a 50 day moving average of $7.02 and a 200 day moving average of $7.12.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. The firm had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $18.44 million. As a group, research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jones Trading boosted their target price on AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.30.

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.