Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have earned an average rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $14.83.
A number of analysts recently weighed in on PMT shares. JMP Securities reaffirmed a "market outperform" rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. UBS Group dropped their target price on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th.
View Our Latest Stock Analysis on PennyMac Mortgage Investment Trust
Insider Activity
In related news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake 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 in the 4th quarter worth about $25,000. GAMMA Investing LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 204.0% in the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,363 shares during the period. Versant Capital Management Inc grew its position in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 822 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 2,288 shares during the last quarter. Institutional investors own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Trading Down 1.0 %
PennyMac Mortgage Investment Trust stock traded down $0.13 during midday trading on Wednesday, reaching $12.86. The stock had a trading volume of 212,225 shares, compared to its average volume of 796,450. The stock's 50-day simple moving average is $14.01 and its 200 day simple moving average is $13.53. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $1.12 billion, a PE ratio of 9.67 and a beta of 1.17.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.
PennyMac Mortgage Investment Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.44%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is 120.30%.
About PennyMac Mortgage Investment Trust
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Get Free ReportPennyMac 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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