Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received an average recommendation of “Hold” from the ten ratings firms that are covering the firm. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.46.

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $18.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, April 19th. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, February 15th. Credit Suisse Group AG increased their price target on PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 28th. Finally, Compass Point downgraded PennyMac Mortgage Investment Trust from a “buy” rating to a “neutral” rating in a research report on Monday, February 6th.

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Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) traded up 0.56% during mid-day trading on Monday, reaching $17.81. The company had a trading volume of 267,108 shares. The firm’s 50 day moving average is $17.73 and its 200-day moving average is $16.94. The stock has a market capitalization of $1.19 billion, a P/E ratio of 14.03 and a beta of 0.62. PennyMac Mortgage Investment Trust has a 12-month low of $14.28 and a 12-month high of $18.25.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 27th. Shareholders of record on Thursday, April 13th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.62%. The ex-dividend date was Tuesday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 179.05%.

In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 2,375 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $17.03, for a total value of $40,446.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Richard Bailey sold 3,076 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $16.90, for a total value of $51,984.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,072 shares of company stock worth $204,174. Company insiders own 1.80% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 2,106.6% in the first quarter. BlackRock Inc. now owns 6,302,356 shares of the real estate investment trust’s stock worth $111,868,000 after buying an additional 6,016,745 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,187,737 shares of the real estate investment trust’s stock worth $92,082,000 after buying an additional 196,152 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of PennyMac Mortgage Investment Trust by 4.7% in the third quarter. BlackRock Fund Advisors now owns 3,382,760 shares of the real estate investment trust’s stock worth $52,703,000 after buying an additional 151,596 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,153,068 shares of the real estate investment trust’s stock worth $55,967,000 after buying an additional 768,444 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 0.6% in the first quarter. Thornburg Investment Management Inc. now owns 2,163,914 shares of the real estate investment trust’s stock worth $38,409,000 after buying an additional 13,347 shares in the last quarter. 61.17% of the stock is currently owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

12 Month Chart for NYSE:PMT

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