PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Rating of "Hold" by Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have received an average recommendation of "Hold" from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $14.50.

PMT has been the subject of several analyst reports. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lowered their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group cut their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT traded up $0.08 during trading hours on Thursday, hitting $12.44. The company's stock had a trading volume of 507,599 shares, compared to its average volume of 795,206. The business has a 50 day simple moving average of $12.81 and a two-hundred day simple moving average of $13.28. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 9.35 and a beta of 1.32.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The company had revenue of $44.47 million for the quarter, compared to analysts' expectations of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same period last year, the company posted $0.39 EPS. On average, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Catherine A. Lynch bought 2,878 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $12.15 per share, with a total value of $34,967.70. Following the completion of the purchase, the director now directly owns 49,254 shares in the company, valued at $598,436.10. This represents a 6.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of PMT. Rialto Wealth Management LLC purchased a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at about $25,000. Principal Securities Inc. increased its position in PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 2,288 shares during the period. GAMMA Investing LLC raised its stake in PennyMac Mortgage Investment Trust by 204.0% in the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock worth $30,000 after buying an additional 1,363 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $36,000. Finally, Allworth Financial LP purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $39,000. 67.38% of the stock is owned by institutional investors.

About PennyMac Mortgage Investment Trust

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.