AG Mortgage Investment Trust, Inc. (NYSE:MITT) Announces Dividend Increase - $0.20 Per Share
AG Mortgage Investment Trust, Inc. (NYSE:MITT) has announced a quarterly dividend increase to $0.20 per share, up from $0.19, representing a 5.3% rise. The dividend will be paid on April 30th to shareholders of record as of March 31st, yielding 10.65% annually. The company has a payout ratio of 71.7%, indicating earnings sufficiently cover the dividend. Analysts predict earnings of $1.13 per share next year, supporting the sustainability of the dividend. The stock opened at $7.51, with a market cap of $222.80 million and a consensus rating of "Moderate Buy."
AG Mortgage Investment Trust, Inc. (NYSE:MITT - Get Free Report) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Monday, March 31st will be paid 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 yield of 10.65%. This is a 5.3% increase from AG Mortgage Investment Trust's previous quarterly dividend of $0.19.
AG Mortgage Investment Trust has a payout ratio of 71.7% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance
Shares of NYSE MITT opened at $7.51 on Tuesday. 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 cap of $222.80 million, a PE ratio of 3.29 and a beta of 2.05. The stock has a fifty day moving average of $6.99 and a 200-day moving average of $7.11.
AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. On average, sell-side analysts predict that AG Mortgage Investment Trust will post 0.78 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on MITT. Jones Trading boosted their price target on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Monday, March 3rd. JMP Securities restated a "market outperform" rating and issued a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.30.
Read Our Latest Stock Analysis on MITT
AG Mortgage Investment Trust Company Profile
(Get Free Report)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.
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