PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Rating of “Hold” from Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.8750.

Several analysts have recently weighed in on PMT shares. UBS Group raised their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Friday, October 24th. Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a research note on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, CEO David Spector purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $12.40 per share, with a total value of $124,000.00. Following the completion of the acquisition, the chief executive officer directly owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. The trade was a 2.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in PennyMac Mortgage Investment Trust in the first quarter worth $3,713,000. Russell Investments Group Ltd. lifted its position in shares of PennyMac Mortgage Investment Trust by 196.5% in the 1st quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,162 shares during the last quarter. Jump Financial LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $1,383,000. Samalin Investment Counsel LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 22.8% in the 1st quarter. Samalin Investment Counsel LLC now owns 16,678 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 3,097 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at about $7,644,000. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Trading Down 3.8%

PMT opened at $12.55 on Monday. The firm’s 50 day moving average is $12.55 and its 200-day moving average is $12.44. PennyMac Mortgage Investment Trust has a 52-week low of $11.60 and a 52-week high of $14.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.72. The firm has a market capitalization of $1.09 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.12 and a beta of 1.28.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. The business had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, December 26th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Friday, December 26th. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.