PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Reaffirmed by JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They presently have a $15.00 price target on the real estate investment trust’s stock. JMP Securities’ target price points to a potential upside of 12.53% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. B. Riley increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.58.

PennyMac Mortgage Investment Trust Trading Up 0.8 %

Shares of NYSE:PMT traded up $0.10 during mid-day trading on Thursday, reaching $13.33. The stock had a trading volume of 309,072 shares, compared to its average volume of 615,622. The firm has a market cap of $1.16 billion, a PE ratio of 8.27 and a beta of 1.48. The firm has a 50 day simple moving average of $14.06 and a two-hundred day simple moving average of $13.89. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 7.3% during the 4th quarter. Squarepoint Ops LLC now owns 11,926 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 815 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,115 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 1,137 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of PennyMac Mortgage Investment Trust by 9.9% in the 1st quarter. Blair William & Co. IL now owns 12,741 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 1,150 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 2.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 42,460 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 1,201 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

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.