Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target at $14.20

Key Points

• PennyMac Mortgage Investment Trust has received a consensus rating of "Hold" from six analysts, with four recommending a hold and two a buy.
• The company reported an earnings per share (EPS) of ($0.04) for the last quarter, significantly missing analyst expectations of $0.35.
• PennyMac has declared a quarterly dividend of $0.40, resulting in a robust annualized yield of 12.51%, despite a high dividend payout ratio of 172.04%.

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

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. UBS Group reduced their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $14.50 to $13.50 in a research report on Friday.

PennyMac Mortgage Investment Trust Stock Down 2.9%

PennyMac Mortgage Investment Trust stock traded down $0.38 during midday trading on Friday, reaching $12.40. The company's stock had a trading volume of 1,286,001 shares, compared to its average volume of 901,701. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $14.93. The company has a quick ratio of 0.63, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.08 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.61 and a beta of 1.24. The business has a 50-day simple moving average of $12.63 and a 200-day simple moving average of $13.17.

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 (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. On average, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.60 annualized dividend and a yield of 12.91%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 222.22%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Large investors have recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $139,000. Raymond James Financial Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $1,300,000. Virtu Financial LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $419,000. KLP Kapitalforvaltning AS bought a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $217,000. Finally, LPL Financial LLC grew its position in PennyMac Mortgage Investment Trust by 8.9% in the fourth quarter. LPL Financial LLC now owns 214,628 shares of the real estate investment trust's stock valued at $2,702,000 after purchasing an additional 17,592 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.