PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Lowered by Keefe, Bruyette & Woods

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) was downgraded by research analysts at Keefe, Bruyette & Woods from a "moderate buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on PMT. Piper Sandler cut their price target on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Wells Fargo & Company cut their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Thursday. Citizens Jmp cut their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a "market outperform" rating on the stock in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a "hold" rating to a "sell" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of "Hold" and an average target price of $13.10.

PennyMac Mortgage Investment Trust Trading Down 0.7%

NYSE PMT opened at $11.01 on Thursday. The company's fifty day simple moving average is $11.82 and its 200-day simple moving average is $12.35. PennyMac Mortgage Investment Trust has a 52 week low of $10.86 and a 52 week high of $13.81. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 7.99. The stock has a market cap of $959.64 million, a P/E ratio of 9.57, a PEG ratio of 0.54 and a beta of 1.19.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%.The business had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PMT. Flagship Harbor Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $26,000. Bessemer Group Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 142.1% in the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 1,285 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $33,000. GAMMA Investing LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 102.8% in the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% in the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 1,815 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust NYSE: PMT is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor's mortgage servicing, underwriting and capital markets expertise.

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