AG Mortgage Investment Trust (NYSE:MITT) released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50, Bloomberg Earnings reports. AG Mortgage Investment Trust had a net margin of 92.01% and a return on equity of 11.23%. The company had revenue of $22.67 million during the quarter, compared to analysts’ expectations of $21.68 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.
Shares of AG Mortgage Investment Trust (NYSE MITT) traded up $0.14 during trading hours on Wednesday, hitting $17.70. 151,804 shares of the company’s stock were exchanged, compared to its average volume of 163,954. AG Mortgage Investment Trust has a 52 week low of $16.31 and a 52 week high of $19.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $496.53, a P/E ratio of 4.67 and a beta of 0.77.
In related news, CFO Brian C. Sigman bought 7,200 shares of the stock in a transaction dated Monday, March 5th. The stock was acquired at an average price of $17.09 per share, for a total transaction of $123,048.00. Following the acquisition, the chief financial officer now owns 38,500 shares in the company, valued at approximately $657,965. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.57% of the company’s stock.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and set a $18.25 price target on shares of AG Mortgage Investment Trust in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.25.
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AG Mortgage Investment Trust Company Profile
AG Mortgage Investment Trust, Inc is a real estate investment trust (REIT). The Company focuses on investing in, acquiring and managing a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets, which the Company refers to as its target assets. It also focuses on investing in residential mortgage-backed securities (RMBS) issued or guaranteed by a government-sponsored enterprise, such as The Federal National Mortgage Association (Fannie Mae) or The Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, GSEs), or any agency of the United States Government, such as The Government National Mortgage Association (Ginnie Mae) (collectively Agency RMBS), and other real estate-related securities and financial assets, including Non-Agency RMBS, asset backed securities (ABS), commercial mortgage-backed securities (CMBS) and loans.
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