PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Rating of "Hold" from Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have received an average recommendation of "Hold" from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.50.

PMT has been the subject of a number of research analyst reports. UBS Group reduced their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Finally, Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th.

Insider Activity

In other news, Director Catherine A. Lynch bought 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 acquisition, the director directly owned 49,254 shares in the company, valued at approximately $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in PMT. Rhumbline Advisers raised its stake in shares of PennyMac Mortgage Investment Trust by 0.4% during the fourth quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust's stock valued at $3,333,000 after acquiring an additional 1,001 shares during the last quarter. Principal Financial Group Inc. increased its holdings in PennyMac Mortgage Investment Trust by 5.8% in the fourth quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust's stock valued at $6,747,000 after purchasing an additional 29,550 shares during the period. Sanctuary Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth $189,000. Proficio Capital Partners LLC acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth about $139,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock worth $19,142,000 after buying an additional 63,781 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT traded up $0.01 during trading on Monday, reaching $13.24. 478,985 shares of the company's stock were exchanged, compared to its average volume of 793,019. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50 day moving average price of $12.61 and a 200-day moving average price of $13.17. The stock has a market capitalization of $1.15 billion, a P/E ratio of 14.24, a PEG ratio of 1.29 and a beta of 1.24. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The company had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 8.87% and a net margin of 40.42%. During the same quarter in the prior year, the business posted $0.39 EPS. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.08%. The ex-dividend date is Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 172.04%.

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.