Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $18.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $19.00.

A number of other equities analysts also recently issued reports on PMT. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a sell rating to a hold rating in a research note on Thursday, October 5th. BidaskClub upgraded shares of PennyMac Mortgage Investment Trust from a hold rating to a buy rating in a research note on Saturday, August 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $17.00.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 16.95 on Tuesday. PennyMac Mortgage Investment Trust has a 52-week low of $14.71 and a 52-week high of $18.46. The firm’s 50-day moving average price is $17.18 and its 200-day moving average price is $17.59. The stock has a market cap of $1.13 billion, a P/E ratio of 10.13 and a beta of 0.49.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $83.96 million for the quarter, compared to the consensus estimate of $80.12 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. PennyMac Mortgage Investment Trust’s revenue for the quarter was up 76.4% on a year-over-year basis. Equities analysts predict that PennyMac Mortgage Investment Trust will post $1.60 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 13th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.88 dividend on an annualized basis and a yield of 11.09%. PennyMac Mortgage Investment Trust’s payout ratio is 109.94%.

In related news, insider David Spector sold 18,750 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $17.39, for a total transaction of $326,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 56,250 shares of company stock valued at $982,500 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of PMT. BlackRock Inc. lifted its position in PennyMac Mortgage Investment Trust by 2,106.6% during the first quarter. BlackRock Inc. now owns 6,302,356 shares of the real estate investment trust’s stock valued at $111,868,000 after acquiring an additional 6,016,745 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 during the last quarter. UBS Group AG raised its holdings in shares of 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 during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of 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 during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 during the last quarter. 62.48% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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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