AG Mortgage Investment Trust Inc (NYSE:MITT) declared a quarterly dividend on Tuesday, June 19th, Wall Street Journal reports. Investors of record on Friday, June 29th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, July 31st. This represents a $2.00 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date of this dividend is Thursday, June 28th. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.48.
AG Mortgage Investment Trust has decreased its dividend by an average of 7.5% annually over the last three years. AG Mortgage Investment Trust has a dividend payout ratio of 105.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of AG Mortgage Investment Trust traded down $0.13, reaching $19.33, on Tuesday, MarketBeat reports. 236,090 shares of the company’s stock were exchanged, compared to its average volume of 137,293. AG Mortgage Investment Trust has a twelve month low of $16.31 and a twelve month high of $19.95. The firm has a market cap of $548.51 million, a PE ratio of 9.40 and a beta of 0.75. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.03.
Several equities analysts recently commented on the stock. ValuEngine downgraded shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.25 price target on shares of AG Mortgage Investment Trust in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $18.13.
About AG Mortgage Investment Trust
AG Mortgage Investment Trust, Inc, a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage assets, other real estate-related securities, and financial assets. The company invests in residential mortgage-backed securities (RMBS) issued or guaranteed by a U.S.
Receive News & Ratings for AG Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AG Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.