MTGE Investment (MTGE) Rating Lowered to Sell at BidaskClub

MTGE Investment (NASDAQ:MTGE) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other research analysts also recently commented on the company. Maxim Group increased their price objective on MTGE Investment from $20.50 to $21.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 target price on shares of MTGE Investment in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $20.50.

MTGE Investment (NASDAQ MTGE) opened at $18.10 on Thursday. MTGE Investment has a 1-year low of $15.50 and a 1-year high of $20.00. The company has a market capitalization of $828.94, a PE ratio of 10.06 and a beta of 0.45. The company has a debt-to-equity ratio of 4.05, a current ratio of 0.82 and a quick ratio of 0.82.

MTGE Investment (NASDAQ:MTGE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). MTGE Investment had a net margin of 89.01% and a return on equity of 10.52%. The business had revenue of $21.54 million during the quarter, compared to analysts’ expectations of $31.36 million. During the same quarter in the previous year, the company posted $1.48 EPS. The company’s revenue was down 15.6% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of MTGE Investment by 9.5% in the 2nd quarter. State Street Corp now owns 1,232,032 shares of the real estate investment trust’s stock valued at $23,165,000 after purchasing an additional 106,651 shares during the period. Boston Partners boosted its position in shares of MTGE Investment by 11.5% in the 3rd quarter. Boston Partners now owns 685,604 shares of the real estate investment trust’s stock valued at $13,301,000 after purchasing an additional 70,973 shares during the period. Prudential Financial Inc. boosted its position in shares of MTGE Investment by 26.7% in the 3rd quarter. Prudential Financial Inc. now owns 529,737 shares of the real estate investment trust’s stock valued at $10,277,000 after purchasing an additional 111,495 shares during the period. Allianz Asset Management GmbH boosted its position in shares of MTGE Investment by 8.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 297,909 shares of the real estate investment trust’s stock valued at $5,780,000 after purchasing an additional 23,494 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of MTGE Investment in the 3rd quarter valued at about $5,739,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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About MTGE Investment

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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