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

Key Points

• Analysts have a consensus "Hold" rating (5 holds, 3 buys) on PennyMac Mortgage Investment Trust with an average 12‑month price target of $13.60.
• The REIT recently paid a $0.40 quarterly dividend (annualized $1.60), representing a 13.2% yield
• Shares trade around $12.13 with a market cap of $1.06 billion and a P/E of 12.37, and about 67.38% of the stock is held by hedge funds and other institutional investors.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have been assigned a consensus rating of "Hold" from the eight analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.60.

PMT has been the subject of several analyst reports. Piper Sandler reduced their target price on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Citizens Jmp reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a "market outperform" rating for the company in a report on Thursday, January 22nd. Citigroup reissued an "outperform" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 1,395 shares in the last quarter. Clearstead Advisors LLC grew its holdings in PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 1,815 shares in the last quarter. Finally, CWM LLC grew its holdings in PennyMac Mortgage Investment Trust by 57.7% during the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 1,077 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Trading Up 1.5%

PennyMac Mortgage Investment Trust stock opened at $12.13 on Friday. The firm has a 50 day moving average of $11.90 and a 200 day moving average of $12.36. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.58 and a beta of 1.24. PennyMac Mortgage Investment Trust has a 12-month low of $11.15 and a 12-month high of $13.81. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 6.55.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. As a group, research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 163.27%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.