PennyMac Mortgage Investment Trust (NYSE:PMT) Given Average Recommendation of “Hold” by Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.93.

A number of equities analysts have weighed in on the company. B. Riley reissued a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, JMP Securities lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th.

PennyMac Mortgage Investment Trust Trading Up 0.1 %

Shares of PennyMac Mortgage Investment Trust stock opened at $13.44 on Friday. The stock has a market cap of $1.17 billion, a P/E ratio of 9.88 and a beta of 1.51. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 12-month low of $12.81 and a 12-month high of $15.89. The business’s 50 day moving average is $13.95 and its 200-day moving average is $13.96.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter in the prior year, the business earned $0.51 EPS. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.90%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 117.65%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 37,010 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of PennyMac Mortgage Investment Trust by 20.6% in the 1st quarter. BNP Paribas Financial Markets now owns 52,493 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 8,966 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in PennyMac Mortgage Investment Trust by 12.4% during the first quarter. Janney Montgomery Scott LLC now owns 54,021 shares of the real estate investment trust’s stock worth $793,000 after acquiring an additional 5,974 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after acquiring an additional 1,179 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $149,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.