AG Mortgage Investment Trust, Inc. (NYSE:MITT) Raised to "Buy" at BidaskClub

Xavier Trudeau
Августа 13, 2017

The institutional investor owned 61,044 shares of the real estate investment trust's stock at the end of the second quarter.

Other institutional investors have also made changes to their positions in the company. The firm owned 47,181 shares of the real estate investment trust's stock after buying an additional 1,389 shares during the period. NY boosted its position in shares of PennyMac Mortgage Investment Trust by 3.0% in the first quarter. LLC now owns 2,674,312 shares of the real estate investment trust's stock valued at $16,634,000 after buying an additional 176,188 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth $275,000. Goldman Sachs Group Inc. now owns 3,153,068 shares of the real estate investment trust's stock worth $55,967,000 after buying an additional 768,444 shares during the period. The stock of AG Mortgage Investment Trust Inc (NYSE:MITT) earned "Buy" rating by Wunderlich on Monday, November 7. UBS Group AG raised its stake in AG Mortgage Investment Trust by 26.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,620 shares of the real estate investment trust's stock valued at $366,000 after buying an additional 1,943 shares during the period. The Company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS. Moreover, Kazazian Asset Management Llc has 2.72% invested in the company for 119,089 shares. The stock has a 50 day moving average price of $17.82 and a 200 day moving average price of $17.50. The company has a market cap of $692.61 million, a price-to-earnings ratio of 12.14 and a beta of 1.38. AG Mortgage Investment Trust has a 12-month low of $14.61 and a 12-month high of $19.56. AG Mortgage Investment Trust Inc (NYSE:MITT) has risen 37.46% since August 11, 2016 and is uptrending. Analysts anticipate that New York Mortgage Trust will post $0.54 earnings per share for the current year. New York Mortgage Trust had a net margin of 19.62% and a return on equity of 10.05%. The company had revenue of $83.96 million during the quarter, compared to the consensus estimate of $80.12 million. During the same period a year ago, the business posted $0.43 EPS. The business's revenue was down 5.7% on a year-over-year basis. PennyMac Mortgage Investment Trust's payout ratio is now 109.94%. Stockholders of record on Thursday, July 13th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, July 11th. This represents a $1.88 annualized dividend and a dividend yield of 10.92%. Citadel Advsrs Ltd Liability Co has invested 0% in AG Mortgage Investment Trust Inc (NYSE:MITT).

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AG Mortgage Investment Trust (MITT) opened at 19.34 on Friday.

Several research firms have recently weighed in on PMT. Keefe, Bruyette & Woods reissued a "buy" rating and issued a $18.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, April 19th. BidaskClub cut AG Mortgage Investment Trust from a buy rating to a hold rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and an average target price of $17.46. Also, CFO Andrew S. Chang sold 1,937 shares of the firm's stock in a transaction that occurred on Monday, June 5th. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

In other news, CEO David Spector sold 8,235 shares of the firm's stock in a transaction on Monday, June 5th. The stock was sold at an average price of $17.59, for a total transaction of $144,853.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,626 shares of company stock worth $222,229.

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P.

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