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

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been given an average rating of "Hold" by the eight analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.50.

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Finally, UBS Group lowered their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock traded up $0.20 during trading hours on Friday, reaching $13.03. 96,220 shares of the company were exchanged, compared to its average volume of 823,408. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The stock's fifty day moving average is $13.48 and its two-hundred day moving average is $13.38. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 9.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.28%. The ex-dividend date of this dividend was Friday, April 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 172.04%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $12.15 per share, with a total value of $34,967.70. Following the completion of the transaction, the director now owns 49,254 shares of the company's stock, valued at $598,436.10. This represents a 6.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Doug Jones sold 14,530 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the transaction, the director now directly owns 64,082 shares of the company's stock, valued at $929,189. This represents a 18.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 204.0% during the 1st 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 period. Principal Securities Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 2,288 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $36,000. 67.38% of the stock is currently owned by institutional investors.

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.