AG Mortgage Investment Trust (NYSE:MITT) Coverage Initiated at Piper Sandler

July 28, 2024

2 minutes read

Investment analysts at Piper Sandler started coverage on shares of AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $9.00 price target on the real estate investment trust’s stock. Piper Sandler’s target price would indicate a potential upside of 16.28% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Jonestrading restated a “buy” rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $7.50 price target on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. JMP Securities boosted their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, StockNews.com upgraded AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Read Our Latest Stock Analysis on AG Mortgage Investment Trust

AG Mortgage Investment Trust Trading Up 4.7 %

Shares of NYSE:MITT opened at $7.74 on Friday. The stock has a fifty day simple moving average of $6.93 and a two-hundred day simple moving average of $6.39. The stock has a market capitalization of $228.10 million, a price-to-earnings ratio of 4.45 and a beta of 2.06. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.74.

Institutional Trading of AG Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of MITT. Janney Montgomery Scott LLC purchased a new stake in AG Mortgage Investment Trust during the first quarter valued at $704,000. Bank of New York Mellon Corp increased its position in AG Mortgage Investment Trust by 105.4% during the second quarter. Bank of New York Mellon Corp now owns 163,754 shares of the real estate investment trust’s stock valued at $1,087,000 after acquiring an additional 84,037 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in AG Mortgage Investment Trust by 64.1% during the fourth quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 51,709 shares during the period. Jump Financial LLC bought a new stake in AG Mortgage Investment Trust during the fourth quarter valued at about $280,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in AG Mortgage Investment Trust during the fourth quarter valued at about $231,000. Hedge funds and other institutional investors own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

(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.