PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

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Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have been given a consensus rating of "Hold" by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.00.

PMT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $14.50 to $13.50 in a report on Friday, July 25th. Wells Fargo & Company dropped their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT traded up $0.4750 during trading on Tuesday, reaching $12.3650. The company had a trading volume of 848,783 shares, compared to its average volume of 757,529. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 3.02 and a beta of 1.22. The company has a debt-to-equity ratio of 3.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock's fifty day moving average price is $12.47 and its 200 day moving average price is $13.08. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.70 and a fifty-two week high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.9%. PennyMac Mortgage Investment Trust's payout ratio is presently 222.22%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 870 shares during the period. Maridea Wealth Management LLC boosted its position in PennyMac Mortgage Investment Trust by 2.7% during the second quarter. Maridea Wealth Management LLC now owns 41,578 shares of the real estate investment trust's stock worth $535,000 after purchasing an additional 1,085 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in PennyMac Mortgage Investment Trust by 10.0% during the second quarter. J.W. Cole Advisors Inc. now owns 14,540 shares of the real estate investment trust's stock worth $187,000 after purchasing an additional 1,316 shares in the last quarter. Motiv8 Investments LLC boosted its position in PennyMac Mortgage Investment Trust by 13.1% during the first quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock worth $169,000 after purchasing an additional 1,333 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

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.