Analysts Set PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target at $15.17

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $15.17.

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th.

PennyMac Mortgage Investment Trust Trading Up 1.2 %

PMT opened at $12.59 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 9.26 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 12 month low of $12.33 and a 12 month high of $15.22. The stock has a fifty day moving average price of $13.32 and a 200-day moving average price of $13.73.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its 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 the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.71%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of PennyMac Mortgage Investment Trust by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock worth $17,386,000 after purchasing an additional 18,122 shares during the last quarter. Principal Financial Group Inc. increased its holdings in PennyMac Mortgage Investment Trust by 18.2% in the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after buying an additional 77,955 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $28,000. Geode Capital Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust’s stock valued at $28,838,000 after acquiring an additional 31,479 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of PennyMac Mortgage Investment Trust by 136.5% in the 3rd quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust’s stock valued at $1,021,000 after acquiring an additional 41,300 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.