AG Mortgage Investment Trust, Inc. (NYSE:MITT) Short Interest Down 43.6% in March

AG Mortgage Investment Trust, Inc. (NYSE:MITT) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 115,800 shares, a drop of 43.6% from the February 29th total of 205,200 shares. Based on an average daily trading volume, of 212,700 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the company’s shares are sold short.

AG Mortgage Investment Trust Stock Up 0.2 %

Shares of MITT stock traded up $0.01 during trading on Thursday, reaching $6.02. 23,221 shares of the company’s stock were exchanged, compared to its average volume of 211,521. The stock has a market capitalization of $177.29 million, a PE ratio of 3.82 and a beta of 1.98. AG Mortgage Investment Trust has a twelve month low of $4.82 and a twelve month high of $6.89. The firm’s fifty day moving average price is $6.10 and its 200-day moving average price is $5.81.

AG Mortgage Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 27th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.96%. AG Mortgage Investment Trust’s payout ratio is presently 12.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. UBS Group started coverage on AG Mortgage Investment Trust in a research report on Wednesday, December 6th. They set a “buy” rating and a $7.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Insiders Place Their Bets

In related news, CEO Thomas Durkin bought 50,000 shares of AG Mortgage Investment Trust stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the acquisition, the chief executive officer now owns 372,832 shares in the company, valued at $2,281,731.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Trading of AG Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in AG Mortgage Investment Trust by 175.1% in the 1st quarter. FMR LLC now owns 6,633 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 4,222 shares during the period. Engineers Gate Manager LP bought a new stake in shares of AG Mortgage Investment Trust during the 3rd quarter valued at $43,000. JPMorgan Chase & Co. lifted its position in shares of AG Mortgage Investment Trust by 392,600.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,854 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 7,852 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of AG Mortgage Investment Trust by 37.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 2,718 shares during the last quarter. Finally, CI Private Wealth LLC bought a new stake in shares of AG Mortgage Investment Trust during the 4th quarter worth $74,000. 27.32% of the stock is currently owned by institutional investors.

About AG Mortgage Investment Trust

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.