Jones Trading Lowers AG Mortgage Investment Trust (NYSE:MITT) Price Target to $8.00

AG Mortgage Investment Trust (NYSE:MITT) had its target price dropped by equities research analysts at Jones Trading from $8.50 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Jones Trading’s price target points to a potential upside of 27.69% from the company’s previous close.

Separately, JMP Securities restated a “market outperform” rating and set a $8.50 price objective on shares of AG Mortgage Investment Trust in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.20.

AG Mortgage Investment Trust Stock Up 2.2 %

NYSE MITT opened at $6.27 on Thursday. The company’s 50 day moving average is $7.12 and its 200-day moving average is $7.00. The firm has a market cap of $185.81 million, a P/E ratio of 2.75 and a beta of 1.46. AG Mortgage Investment Trust has a 12-month low of $5.50 and a 12-month high of $7.95.

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

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of MITT. Russell Investments Group Ltd. raised its position in AG Mortgage Investment Trust by 98.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,532 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 2,739 shares during the last quarter. Quarry LP raised its holdings in shares of AG Mortgage Investment Trust by 158.9% during the fourth quarter. Quarry LP now owns 6,377 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 3,914 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in AG Mortgage Investment Trust by 43.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,421 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 2,231 shares during the period. LPL Financial LLC bought a new stake in AG Mortgage Investment Trust in the fourth quarter valued at $70,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in AG Mortgage Investment Trust during the 4th quarter valued at $70,000. 27.32% of the stock is owned by institutional investors.

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.