PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts have a consensus “Hold” rating on PennyMac Mortgage Investment Trust, with five holds, three buys and one sell among nine firms; the average one-year price target is $10.75.
• PMT reported quarterly EPS of $0.35, beating the $0.30 consensus, but revenue of $36.24 million fell short of analysts’ $95.01 million estimate.
• The trust’s annualized dividend is $1.60 per share, a stated yield of 21.4%, while its payout ratio is 347.83%.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been assigned a consensus rating of "Hold" from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.75.

A number of analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of PennyMac Mortgage Investment Trust from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, October 9th. Weiss Ratings cut shares of PennyMac Mortgage Investment Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Citigroup reaffirmed a "market outperform" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 15th. Wells Fargo & Company decreased their price objective on PennyMac Mortgage Investment Trust from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 4th. Finally, Deutsche Bank upgraded PennyMac Mortgage Investment Trust from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Saturday, August 15th.

PennyMac Mortgage Investment Trust Stock Down 5.1%

PMT opened at $7.46 on Thursday. The company has a market capitalization of $650.95 million, a P/E ratio of 16.23, a P/E/G ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 11.14, a current ratio of 1.60 and a quick ratio of 1.60. The firm's fifty day moving average price is $8.04 and its two-hundred day moving average price is $10.23. PennyMac Mortgage Investment Trust has a fifty-two week low of $6.70 and a fifty-two week high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.05. The company had revenue of $36.24 million during the quarter, compared to analysts' expectations of $95.01 million. PennyMac Mortgage Investment Trust had a net margin of 29.15% and a return on equity of 11.41%. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post 0.31 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Thursday, October 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $1.60 annualized dividend and a yield of 21.4%. PennyMac Mortgage Investment Trust's payout ratio is currently 347.83%.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 142.1% during the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 1,285 shares during the period. Wedbush Securities Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 1.6% in the 2nd quarter. Wedbush Securities Inc. now owns 92,059 shares of the real estate investment trust's stock valued at $1,038,000 after purchasing an additional 1,469 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 12.0% in the 3rd quarter. Cibc World Market Inc. now owns 18,700 shares of the real estate investment trust's stock valued at $147,000 after purchasing an additional 2,000 shares in the last quarter. Amundi grew its holdings in shares of PennyMac Mortgage Investment Trust by 17.0% in the 1st quarter. Amundi now owns 15,855 shares of the real estate investment trust's stock worth $185,000 after purchasing an additional 2,304 shares during the last quarter. Finally, AlphaCore Capital LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 15.4% in the 3rd quarter. AlphaCore Capital LLC now owns 17,541 shares of the real estate investment trust's stock worth $138,000 after purchasing an additional 2,344 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust focused on the U.S. residential mortgage market. The company invests in mortgage-related assets, including mortgage loans and mortgage-backed securities, and seeks to generate returns from its investment portfolio. Its activities include acquiring and managing loans and securities across different parts of the mortgage market. These investments expose the trust to factors such as borrower credit performance, interest rates and changes in mortgage prepayment activity.

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