PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Rating of "Hold" from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has received a consensus rating of "Hold" from the eight analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $14.50.

Several research analysts recently commented on PMT shares. Wells Fargo & Company dropped 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 report on Friday, May 2nd. UBS Group dropped their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Jones Trading reiterated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th.

Insiders Place Their Bets

In related news, Director Catherine A. Lynch bought 2,878 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the purchase, the director now directly owns 49,254 shares of the company's stock, valued at approximately $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in PennyMac Mortgage Investment Trust during the 1st quarter worth about $240,000. Westbourne Investments Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 24.6% during the first quarter. Westbourne Investments Inc. now owns 49,480 shares of the real estate investment trust's stock worth $725,000 after purchasing an additional 9,780 shares during the period. Intech Investment Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% during the first quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust's stock worth $1,601,000 after purchasing an additional 1,411 shares during the period. Jane Street Group LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth about $4,166,000. Finally, Optimize Financial Inc lifted its holdings in shares of PennyMac Mortgage Investment Trust by 7.3% during the first quarter. Optimize Financial Inc now owns 26,081 shares of the real estate investment trust's stock worth $382,000 after purchasing an additional 1,780 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock traded up $0.08 on Thursday, reaching $12.44. The company's stock had a trading volume of 507,599 shares, compared to its average volume of 795,712. The stock's fifty day simple moving average is $12.76 and its 200-day simple moving average is $13.27. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.98. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.35 and a beta of 1.27.

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) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The business had revenue of $44.47 million during 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 in the previous year, the business earned $0.39 earnings per share. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

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.