PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $16.95.

A number of research firms have weighed in on PMT. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, July 6th. BidaskClub raised PennyMac Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 5th.

A number of institutional investors and hedge funds have recently modified their holdings of PMT. BlackRock Inc. increased its position in PennyMac Mortgage Investment Trust by 2,106.6% in the first quarter. BlackRock Inc. now owns 6,302,356 shares of the real estate investment trust’s stock worth $111,868,000 after buying an additional 6,016,745 shares in the last quarter. Goldman Sachs Group Inc. increased its position in PennyMac Mortgage Investment Trust by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,153,068 shares of the real estate investment trust’s stock worth $55,967,000 after buying an additional 768,444 shares in the last quarter. UBS Group AG increased its position in PennyMac Mortgage Investment Trust by 27.3% in the first quarter. UBS Group AG now owns 1,456,733 shares of the real estate investment trust’s stock worth $25,857,000 after buying an additional 312,290 shares in the last quarter. Advisors Asset Management Inc. increased its position in PennyMac Mortgage Investment Trust by 20.3% in the second quarter. Advisors Asset Management Inc. now owns 1,209,057 shares of the real estate investment trust’s stock worth $22,114,000 after buying an additional 204,191 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in PennyMac Mortgage Investment Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,187,737 shares of the real estate investment trust’s stock worth $92,082,000 after buying an additional 196,152 shares in the last quarter. Institutional investors and hedge funds own 62.47% of the company’s stock.

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PennyMac Mortgage Investment Trust (PMT) traded up 0.70% on Friday, reaching $17.20. The company’s stock had a trading volume of 378,021 shares. The stock has a 50-day moving average of $17.20 and a 200-day moving average of $17.54. The stock has a market cap of $1.15 billion, a P/E ratio of 10.28 and a beta of 0.51. PennyMac Mortgage Investment Trust has a one year low of $14.28 and a one year high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). PennyMac Mortgage Investment Trust had a net margin of 37.97% and a return on equity of 8.67%. The firm had revenue of $83.96 million during the quarter, compared to the consensus estimate of $80.12 million. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s revenue was up 76.4% compared to the same quarter last year. On average, analysts predict that PennyMac Mortgage Investment Trust will post $1.64 EPS for the current fiscal year.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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