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

Key Points

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Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have been assigned an average recommendation of "Hold" from the six brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.00.

A number of research analysts have recently weighed in on PMT shares. Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $14.50 to $13.50 in a research report on Friday, July 25th. Jones Trading restated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd.

PennyMac Mortgage Investment Trust Trading Down 1.3%

PennyMac Mortgage Investment Trust stock opened at $12.00 on Tuesday. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week high of $14.93. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $1.04 billion, a P/E ratio of 16.67, a PEG ratio of 1.82 and a beta of 1.22. The stock has a 50-day simple moving average of $12.52 and a 200 day simple moving average of $13.11.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). The business 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%. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 222.22%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds have recently made changes to their positions in PMT. Trust Co. of Vermont bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $25,000. Allworth Financial LP grew its holdings in shares of PennyMac Mortgage Investment Trust by 1,741.7% during the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 2,003 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $30,000 after acquiring an additional 1,363 shares during the last quarter. Signaturefd LLC lifted its stake in PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 870 shares during the period. Finally, Russell Investments Group Ltd. raised its position in PennyMac Mortgage Investment Trust by 196.5% in the 1st quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 2,162 shares during 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.

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