PennyMac Mortgage Investment Trust (NYSE:PMT) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the real estate investment trust's stock.

Several other analysts also recently issued reports on the stock. B. Riley increased their price objective 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 objective for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $14.58.

PennyMac Mortgage Investment Trust Trading Up 0.3 %

PMT traded up $0.04 on Thursday, reaching $13.28. 640,904 shares of the company's stock were exchanged, compared to its average volume of 620,115. The company's 50 day moving average is $14.06 and its 200-day moving average is $13.89. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 8.25 and a beta of 1.48. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.28.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.05%. The ex-dividend date of this dividend is Thursday, April 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 99.38%.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in PMT. Almitas Capital LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $28,000. Roble Belko & Company Inc bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $29,000. LM Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at $36,000. Federated Hermes Inc. lifted its stake in PennyMac Mortgage Investment Trust by 54.9% in the third quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 1,291 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,603 shares during the last quarter. 67.38% of the stock is currently 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.