Wednesday, September 23, 2020

For AG Mortgage Investment Trust Inc. [MITT], Credit Suisse sees a drop to $1.75. What next?

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AG Mortgage Investment Trust Inc. [NYSE: MITT] surged by $0.04 during the normal trading session on Tuesday and reaching a high of $2.84 during the day while it closed the day at $2.82. The company report on August 25, 2020 that AG Mortgage Investment Trust, Inc. Announces Amendment to Exchange Offer.

AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT” or the “Company”) today announced that it is amending its offer to exchange up to 6,818,350 newly issued shares of its common stock, par value $0.01 per share (the “Common Stock”), for up to 1,363,670 outstanding shares of its Preferred Stock, par value $0.01 per share (the “Preferred Stock”) to specify, for each of the three series of its Preferred Stock, the maximum number of shares sought as set forth in the table below (each, a “Series Consideration Cap”) and to revise the proration methodology accordingly (as so amended, the “Exchange Offer”). The total number of shares of Preferred Stock for which the Exchange Offer is being made and the total number of shares of Common Stock that may be issued as consideration under the Exchange Offer are unchanged.

All references in the offer to exchange dated August 14, 2020 (the “Original Offer to Exchange”) to an offer to exchange up to 1,363,670 shares of Preferred Stock, without regard to series, shall now mean offers to exchange up to 250,470 8.25% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series A Preferred”), up to 556,600 8.00% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series B Preferred”), and up to 556,600 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series C Preferred”), subject to proration on a series by series basis as further described in the Supplement to Offer to Exchange dated August 25, 2020 (the “Supplement to Offer to Exchange” and, together with the Original Offer to Exchange, the “Offer to Exchange”).

AG Mortgage Investment Trust Inc. stock has also loss -3.42% of its value over the past 7 days. However, MITT stock has inclined by 11.02% in the 3 months of the year. Over the past six months meanwhile, it has lost -82.19% and lost -81.71% year-on date.

The market cap for MITT stock reached $96.19 million, with 34.23 million shares outstanding and 33.55 million shares in the current float. Compared to the average trading volume of 3.75M shares, MITT reached a trading volume of 1167791 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about AG Mortgage Investment Trust Inc. [MITT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MITT shares is $2.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MITT stock is a recommendation set at 4.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for AG Mortgage Investment Trust Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 26, 2020. The new note on the price target was released on November 07, 2016, representing the official price target for AG Mortgage Investment Trust Inc. stock. Previously, the target price had yet another raise from $15.50 to $17, while Wunderlich kept a Hold rating on MITT stock. On March 10, 2016, analysts decreased their price target for MITT shares from 17.50 to 17.

The Average True Range (ATR) for AG Mortgage Investment Trust Inc. is set at 0.17, with the Price to Sales ratio for MITT stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 2.00.

MITT stock trade performance evaluation

AG Mortgage Investment Trust Inc. [MITT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.42. With this latest performance, MITT shares gained by 5.22% in over the last four-week period, additionally sinking by -82.19% over the last 6 months – not to mention a drop of -81.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MITT stock in for the last two-week period is set at 43.98, with the RSI for the last a single of trading hit 44.43, and the three-weeks RSI is set at 44.97 for AG Mortgage Investment Trust Inc. [MITT]. The present Moving Average for the last 50 days of trading for this stock 3.06, while it was recorded at 2.83 for the last single week of trading, and 8.21 for the last 200 days.

AG Mortgage Investment Trust Inc. [MITT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and AG Mortgage Investment Trust Inc. [MITT] shares currently have an operating margin of +74.51 and a Gross Margin at +92.23. AG Mortgage Investment Trust Inc.’s Net Margin is presently recorded at +66.08.

Return on Total Capital for MITT is now 2.81, given the latest momentum, and Return on Invested Capital for the company is 9.86. Return on Equity for this stock inclined to 12.93, with Return on Assets sitting at 2.47. When it comes to the capital structure of this company, AG Mortgage Investment Trust Inc. [MITT] has a Total Debt to Total Equity ratio set at 407.26. Additionally, MITT Total Debt to Total Capital is recorded at 80.29, with Total Debt to Total Assets ending up at 79.53. Long-Term Debt to Equity for the company is recorded at 29.19, with the Long-Term Debt to Total Capital now at 3.91.

Receivables Turnover for the company is 10.30 with a Total Asset Turnover recorded at a value of 0.04.

Earnings per share (EPS) analysis for AG Mortgage Investment Trust Inc. [MITT] stock

With the latest financial reports released by the company, AG Mortgage Investment Trust Inc. posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MITT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AG Mortgage Investment Trust Inc. go to -6.01%.

AG Mortgage Investment Trust Inc. [MITT]: Insider Ownership positions

There are presently around $35 million, or 38.40% of MITT stock, in the hands of institutional investors. The top three institutional holders of MITT stocks are: VANGUARD GROUP INC with ownership of 2,329,854, which is approximately -27.877% of the company’s market cap and around 2.00% of the total institutional ownership; LSV ASSET MANAGEMENT, holding 779,827 shares of the stock with an approximate value of $2.2 million in MITT stocks shares; and ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, currently with $2.11 million in MITT stock with ownership of nearly 290.245% of the company’s market capitalization.

Positions in AG Mortgage Investment Trust Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 47 institutional holders increased their position in AG Mortgage Investment Trust Inc. [NYSE:MITT] by around 5,017,482 shares. Additionally, 73 investors decreased positions by around 11,642,247 shares, while 8 investors held positions by with 4,249,689 shares. The mentioned changes placed institutional holdings at 12,410,040 shares, according to the latest SEC report filing. MITT stock had 26 new institutional investments in for a total of 2,069,266 shares, while 47 institutional investors sold positions of 3,542,321 shares during the same period.

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