PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Rating of "Hold" from Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has earned an average rating of "Hold" from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have given 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 $14.50.

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

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the purchase, the director now directly owns 49,254 shares in the company, valued at $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of PMT. Rialto Wealth Management LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $25,000. GAMMA Investing LLC grew its stake in 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 purchasing an additional 1,363 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $36,000. Russell Investments Group Ltd. grew its stake in PennyMac Mortgage Investment Trust by 196.5% during 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 purchasing an additional 2,162 shares in the last quarter. Finally, Sandy Spring Bank acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $12.77 on Monday. The firm has a market capitalization of $1.11 billion, a PE ratio of 13.73, a P/E/G ratio of 1.26 and a beta of 1.27. 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 of $12.60 and a two-hundred day moving average of $13.18. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). The firm 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 company earned $0.39 earnings per share. As a group, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.53%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 172.04%.

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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