MTGE Investment Corp. (NASDAQ:MTGE) had its price target increased by equities researchers at Maxim Group from $20.50 to $21.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Maxim Group’s target price indicates a potential upside of 16.18% from the company’s current price.
A number of other research analysts have also commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 price objective on shares of MTGE Investment Corp. in a research report on Thursday, September 14th. BidaskClub lowered shares of MTGE Investment Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.50.
MTGE Investment Corp. (NASDAQ:MTGE) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). The company had revenue of $21.54 million for the quarter, compared to analyst estimates of $31.36 million. MTGE Investment Corp. had a net margin of 89.01% and a return on equity of 10.66%. The firm’s quarterly revenue was down 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 EPS.
A number of large investors have recently bought and sold shares of MTGE. Chicago Equity Partners LLC acquired a new position in MTGE Investment Corp. in the third quarter worth about $5,739,000. Vanguard Group Inc. raised its position in MTGE Investment Corp. by 6.6% in the first quarter. Vanguard Group Inc. now owns 3,793,053 shares of the real estate investment trust’s stock worth $63,535,000 after purchasing an additional 235,434 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in MTGE Investment Corp. in the second quarter worth about $3,034,000. Kennedy Capital Management Inc. raised its position in MTGE Investment Corp. by 150.0% in the second quarter. Kennedy Capital Management Inc. now owns 248,013 shares of the real estate investment trust’s stock worth $4,663,000 after purchasing an additional 148,800 shares in the last quarter. Finally, State Street Corp raised its position in MTGE Investment Corp. by 14.6% in the first quarter. State Street Corp now owns 1,125,381 shares of the real estate investment trust’s stock worth $18,850,000 after purchasing an additional 143,528 shares in the last quarter. 73.69% of the stock is owned by hedge funds and other institutional investors.
MTGE Investment Corp. Company Profile
MTGE Investment Corp., formerly American Capital Mortgage Investment Corp., is a real estate investment trust. The Company invests in, finances and manages a leveraged portfolio of real estate-related investments, which include agency residential mortgage-backed securities (RMBS), non-agency securities, other mortgage-related investments and other real estate investments.
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