AG Mortgage Investment Trust, Inc. (MITT) has recently attracted the attention of institutional investors and hedge funds, indicating a growing interest in the company’s stock within the real estate investment trust (REIT) industry. Transcend Capital Advisors LLC, an institutional investor, has acquired a new position in shares of MITT, according to its recent filing with the Securities and Exchange Commission (SEC). This acquisition includes 41,800 shares of MITT’s stock valued at approximately $256,000. As of the most recent filing, Transcend Capital Advisors LLC owned 0.21% of AG Mortgage Investment Trust.
While MITT fell short of analysts’ consensus estimates in its recent earnings release on August 7th, reporting earnings per share (EPS) of $0.08, the company maintained a return on equity of 8.75% and a net margin of 13.01%. MITT generated revenue of $60.79 million during the quarter. These figures highlight the company’s solid financial performance despite the discrepancy in EPS.
AG Mortgage Investment Trust primarily focuses on acquiring and managing residential mortgage-backed securities and other mortgage-related assets. Through active management and selective investments, the company aims to generate attractive risk-adjusted returns for its shareholders. The recent acquisition by Transcend Capital Advisors LLC signifies institutional investors’ confidence in the potential long-term growth prospects of MITT within the REIT industry.
Investing in REITs can offer diversification benefits as they provide exposure to income-producing properties while allowing investors to participate without directly owning or managing these properties themselves. MITT’s steady performance and potential for growth make it an attractive investment option in the REIT sector.
Hedge funds and other institutional investors have also shown significant activity in MITT’s stock. National Bank of Canada FI raised its position in MITT by 66.7% during the first quarter, FMR LLC increased its holdings by 175.1%, and Engineers Gate Manager LP purchased a new position. JPMorgan Chase & Co. boosted its stake in MITT by a staggering 392,600%, and CI Private Wealth LLC acquired a new stake during the fourth quarter. In total, around 33.26% of MITT’s stock is owned by hedge funds and institutional investors, highlighting their confidence in the company’s growth potential and returns.
MITT’s stock opened at $5.83 per share on September 22nd, with a 52-week low of $3.52 and a high of $7.05 within that same period. With a market capitalization of $117.88 million and a PE ratio of 10.60, MITT demonstrates stability and growth opportunities in the REIT sector. The company has recently announced a quarterly dividend scheduled to be paid on October 31st, amounting to $0.18 per share and translating into an annualized dividend yield of 12.35%. However, the dividend payout ratio (DPR) of MITT is remarkably high at 130.91%.
Several brokerages have expressed their opinions on MITT. JMP Securities has reiterated a “market outperform” rating with a price objective of $7.00 per share. StockNews.com downgraded MITT from a “buy” rating to a “hold” rating, while Jonestrading reaffirmed its “buy” rating with a price objective of $8.00 per share. Overall, analysts have differing opinions but provide an overall positive consensus on MITT as an investment opportunity in the REIT sector.
In conclusion, AG Mortgage Investment Trust has garnered attention from institutional investors and hedge funds due to its promising performance in the REIT industry. With confidence from major players in the financial industry and a positive consensus among analysts, MITT presents an investment opportunity worth considering for those interested in the real estate investment trust sector.