MITT

UBS Initiates Coverage of AG Mortgage Investment Trust (MITT) with Buy Recommendation

Fintel reports that on December 6, 2023, UBS initiated coverage of AG Mortgage Investment Trust (NYSE:MITT) with a Buy recommendation.

Analyst Price Forecast Suggests 33.00% Upside

As of November 27, 2023, the average one-year price target for AG Mortgage Investment Trust is 7.40. The forecasts range from a low of 6.82 to a high of $8.40. The average price target represents an increase of 33.00% from its latest reported closing price of 5.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for AG Mortgage Investment Trust is 73MM, an increase of 5.97%. The projected annual non-GAAP EPS is 0.78.

AG Mortgage Investment Trust Declares $0.05 Dividend

On November 20, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of November 30, 2023 will receive the payment on January 2, 2024. Previously, the company paid $0.08 per share.

At the current share price of $5.56 / share, the stock's dividend yield is 3.60%.

Looking back five years and taking a sample every week, the average dividend yield has been 11.07%, the lowest has been 2.54%, and the highest has been 67.62%. The standard deviation of yields is 5.40 (n=199).

The current dividend yield is 1.38 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 80 funds or institutions reporting positions in AG Mortgage Investment Trust. This is an increase of 10 owner(s) or 14.29% in the last quarter. Average portfolio weight of all funds dedicated to MITT is 0.06%, a decrease of 38.18%. Total shares owned by institutions decreased in the last three months by 15.44% to 4,912K shares. MITT / AG Mortgage Investment Trust Inc Put/Call Ratios The put/call ratio of MITT is 0.08, indicating a bullish outlook.

What are Other Shareholders Doing?

MITT / AG Mortgage Investment Trust Inc Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 622K shares representing 3.08% ownership of the company. No change in the last quarter.

Susquehanna International Group, Llp holds 446K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 433K shares, representing an increase of 2.97%. The firm decreased its portfolio allocation in MITT by 53.59% over the last quarter.

VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 349K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 331K shares, representing an increase of 5.23%. The firm decreased its portfolio allocation in MITT by 0.70% over the last quarter.

Beach Point Capital Management holds 342K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 2,086K shares, representing a decrease of 509.47%. The firm decreased its portfolio allocation in MITT by 78.87% over the last quarter.

Angelo Gordon & Co. holds 288K shares representing 1.42% ownership of the company. In it's prior filing, the firm reported owning 287K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in MITT by 29.60% over the last quarter.

AG Mortgage Investment Trust Background Information
(This description is provided by the company.)

AG Mortgage Investment Trust, Inc. is a hybrid mortgage REIT that opportunistically invests in and manages a diversified risk-adjusted portfolio of Agency RMBS and Credit Investments. Its Credit Investments include Residential Investments and Commercial Investments. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., an SEC-registered investment adviser that specializes in alternative investment activities.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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