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

Key Points

• PennyMac Mortgage Investment Trust has a consensus rating of "Hold" from six brokerages, with one buy recommendation and an average price target of $14.00.
• The company reported an earnings miss of ($0.04) per share, significantly below the consensus estimate of $0.35, alongside revenue of $70.20 million for the quarter.
• PennyMac recently announced a quarterly dividend of $0.40, yielding 13.0% annually, with an unusually high payout ratio of 222.22%.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been assigned an average rating of "Hold" from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $14.00.

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $14.50 to $13.50 in a research note on Friday, July 25th. Wells Fargo & Company assumed coverage on shares of PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They set an "equal weight" rating and a $13.00 price target on the stock.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of large investors have recently made changes to their positions in PMT. Boston Partners bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $14,807,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PennyMac Mortgage Investment Trust by 71.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust's stock worth $19,559,000 after buying an additional 557,389 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $7,644,000. Jane Street Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $4,166,000. Finally, Northern Trust Corp increased its holdings in shares of PennyMac Mortgage Investment Trust by 28.6% in the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock worth $14,420,000 after buying an additional 254,581 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock traded up $0.02 on Friday, hitting $12.26. 343,749 shares of the company's stock were exchanged, compared to its average volume of 799,381. The company has a 50-day simple moving average of $12.30 and a 200-day simple moving average of $12.88. The stock has a market capitalization of $1.07 billion, a PE ratio of 17.02, a PEG ratio of 2.97 and a beta of 1.30. PennyMac Mortgage Investment Trust has a 1 year low of $11.70 and a 1 year 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.

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

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a $0.40 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.60 annualized dividend and a yield of 13.1%. PennyMac Mortgage Investment Trust's payout ratio is presently 222.22%.

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.