Beach Point Capital Management LP recently announced the acquisition of new stake in AG Mortgage Investment Trust Inc. (NYSE:MITT). The institutional investor has increased its shareholding in the Real Estate company by 3.73% to 2.37 million shares with purchase of 85200.0 shares. This fresh investment now brings its stake to 10.74% valued currently at $12.58 million. In addition, The Vanguard Group, Inc. raised its holdings by 19024.0 to 0.97 million shares.
With over 0.14 million AG Mortgage Investment Trust Inc. (MITT) shares trading Friday and a closing price of $6.45 on the day, the dollar volume was approximately $0.93 million. The shares have shown a negative half year performance of -14.68% and its price on 01/20/23 gained nearly 2.22%. Currently, there are 22.39M common shares owned by the public and among those 20.91M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for MITT have a consensus price objective of $7.13. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $6.50. The average price target is 17.31% above its recent price level and an upside to the estimated low will see the stock gain 0.77% over that period. But an upside of 19.37% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 443,031 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in AG Mortgage Investment Trust Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and iShares Tr. – Mortgage Real Estat. Vanguard Total Stock Market Index owns 0.62 million shares of the company’s stock, all valued at over $3.31 million. Vanguard Extended Market Index Fu bought 498.0 shares to see its total holdings expand to 0.32 million shares valued at over $1.69 million and representing 1.45% of the shares outstanding. iShares Tr. – Mortgage Real Estat bought 2655.0 shares to bring its total holdings to over 0.29 million shares at a value of $1.56 million. iShares Tr. – Mortgage Real Estat now owns shares totaling to 1.33% of the shares outstanding.
Shares of AG Mortgage Investment Trust Inc. (NYSE: MITT) opened at $6.32, up $0.01 from a prior closing price of $6.31. However, the script later moved the day high at 6.46, up 2.22%. The company’s stock has a 5-day price change of 1.10% and 58.87% over the past three months. MITT shares are trading 21.47% year to date (YTD), with the 12-month market performance down to -35.82% lower. It has a 12-month low price of $3.52 and touched a high of $10.68 over the same period. MITT has an average intraday trading volume of 165.05K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.14%, 10.86%, and -0.33% respectively.
Institutional ownership of AG Mortgage Investment Trust Inc. (NYSE: MITT) shares accounts for 40.20% of the company’s 22.39M shares outstanding. Mutual fund holders own 4.32%, while other institutional holders and individual stakeholders account for 7.92% and 27.79% respectively.
It has a market capitalization of $139.19M and a beta (3y monthly) value of 1.85. The earnings-per-share (ttm) stands at -$3.02. The company has a debt-to-equity ratio at 16.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.77% over the week and 3.26% over the month.
Analysts forecast that AG Mortgage Investment Trust Inc. (MITT) will achieve an EPS of -$0.01 for the current quarter, $0.24 for the next quarter and $1.02 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.1 while analysts give the company a high EPS estimate of $0.39. Comparatively, EPS for the current quarter was $1.87 a year ago. Earnings per share for the fiscal year are expected to increase by 114.40%, and 123.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate AG Mortgage Investment Trust Inc. (MITT) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 3 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MITT, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on January 09, 2023, with the firm’s price target at $7. Keefe Bruyette coverage for the AG Mortgage Investment Trust Inc. (MITT) stock in a research note released on July 18, 2022 offered a Mkt Perform rating with a price target of $8.50. BTIG Research was of a view on November 08, 2021 that the stock is Neutral, while Keefe Bruyette gave the stock Outperform rating on October 11, 2021, issuing a price target of $12.50- $13.75. JMP Securities on their part issued Mkt Outperform rating on September 28, 2021.