Naviter Wealth LLC Makes New $83,000 Investment in AG Mortgage Investment Trust, Inc. (NYSE:MITT)

Naviter Wealth LLC purchased a new stake in shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,947 shares of the real estate investment trust’s stock, valued at approximately $83,000. Naviter Wealth LLC owned about 0.06% of AG Mortgage Investment Trust at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in shares of AG Mortgage Investment Trust by 37.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 2,718 shares during the period. GSA Capital Partners LLP raised its stake in shares of AG Mortgage Investment Trust by 6.5% in the 3rd quarter. GSA Capital Partners LLP now owns 149,984 shares of the real estate investment trust’s stock worth $832,000 after buying an additional 9,092 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of AG Mortgage Investment Trust in the fourth quarter valued at $87,000. Barclays PLC bought a new position in AG Mortgage Investment Trust during the third quarter valued at about $86,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in AG Mortgage Investment Trust during the third quarter worth about $126,000. 27.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MITT has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of AG Mortgage Investment Trust from $6.75 to $7.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of AG Mortgage Investment Trust in a research note on Thursday, April 18th. Two equities 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, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and a consensus price target of $7.25.

AG Mortgage Investment Trust Trading Down 1.9 %

MITT stock opened at $5.55 on Wednesday. The firm has a market cap of $163.30 million, a PE ratio of 3.53 and a beta of 1.98. AG Mortgage Investment Trust, Inc. has a 1 year low of $4.82 and a 1 year high of $6.89. The company has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $5.82.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.18 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.98%. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.05. AG Mortgage Investment Trust’s payout ratio is currently 45.86%.

Insider Activity

In other news, CEO Thomas Durkin acquired 50,000 shares of AG Mortgage Investment Trust stock in a transaction dated Friday, February 23rd. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00. Following the completion of the purchase, the chief executive officer now owns 372,832 shares of the company’s stock, valued at $2,281,731.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by insiders.

AG Mortgage Investment Trust 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.