PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) was downgraded by Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $13.50 target price on the real estate investment trust's stock, down from their previous target price of $14.50. Keefe, Bruyette & Woods' target price suggests a potential upside of 8.91% from the company's previous close.
A number of other research firms have also recently issued reports on PMT. UBS Group decreased their target price 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 report 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. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of "Hold" and an average target price of $14.00.
Read Our Latest Research Report on PMT
PennyMac Mortgage Investment Trust Stock Down 2.9%
Shares of NYSE PMT opened at $12.40 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.55. The stock has a market cap of $1.08 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.66 and a beta of 1.24. The firm has a 50 day moving average price of $12.63 and a 200 day moving average price of $13.17.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. The firm had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 204.0% in the first 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 during the last quarter. Signaturefd LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 870 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $36,000. Finally, Russell Investments Group Ltd. grew its position in PennyMac Mortgage Investment Trust by 196.5% in the first 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. 67.38% of the stock is currently owned by institutional investors.
PennyMac Mortgage Investment Trust Company Profile
(
Get Free Report)
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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