PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• PennyMac Mortgage Investment Trust (NYSE:PMT) received a sell (D+) rating from Weiss Ratings, indicating analysts' concerns about the stock's performance.
• The company's recent quarterly earnings showed a significant miss, with an EPS of (0.04) against a consensus estimate of (0.35), along with revenue falling short of expectations.
• Despite the negative ratings from multiple analysts, institutional investors hold 67.38% of PennyMac's stock, suggesting some continued confidence in the company's long-term prospects.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

PMT has been the topic of several other reports. Wells Fargo & Company initiated coverage on PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They set an "equal weight" rating and a $13.00 price target on the stock. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $14.50 to $13.50 in a research note on Friday, July 25th. Finally, Zacks Research lowered PennyMac Mortgage Investment Trust from a "hold" rating to a "strong sell" rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $14.00.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $12.55 on Wednesday. PennyMac Mortgage Investment Trust has a twelve month low of $11.70 and a twelve month high of $14.93. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $1.09 billion, a PE ratio of 17.43, a P/E/G ratio of 3.04 and a beta of 1.29. The stock has a 50-day simple moving average of $12.21 and a 200 day simple moving average of $12.65.

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 firm had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch purchased 2,823 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average cost of $12.02 per share, with a total value of $33,932.46. Following the acquisition, the director directly owned 54,711 shares of the company's stock, valued at approximately $657,626.22. This trade represents a 5.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently bought and sold shares of PMT. GAMMA Investing LLC grew its position in PennyMac Mortgage Investment Trust by 4,354.2% during the 1st quarter. GAMMA Investing LLC now owns 29,754 shares of the real estate investment trust's stock worth $436,000 after acquiring an additional 29,086 shares during the last quarter. GraniteShares Advisors LLC grew its position in PennyMac Mortgage Investment Trust by 6.4% during the 1st quarter. GraniteShares Advisors LLC now owns 208,116 shares of the real estate investment trust's stock worth $3,049,000 after acquiring an additional 12,610 shares during the last quarter. QRG Capital Management Inc. grew its position in PennyMac Mortgage Investment Trust by 8.3% during the 1st quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust's stock worth $376,000 after acquiring an additional 1,974 shares during the last quarter. TrueMark Investments LLC bought a new stake in PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $3,106,000. Finally, Motiv8 Investments LLC grew its position in PennyMac Mortgage Investment Trust by 13.1% during the 1st quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock worth $169,000 after acquiring an additional 1,333 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.