PennyMac Mortgage Investment Trust (NYSE:PMT) has earned an average recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.95.

Several brokerages have commented on PMT. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. BidaskClub raised shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, April 19th. Finally, Credit Suisse Group lifted their price objective on shares of 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.

PennyMac Mortgage Investment Trust (PMT) traded down 0.34% during mid-day trading on Tuesday, reaching $17.78. The company’s stock had a trading volume of 731,428 shares. The company’s 50-day moving average price is $17.83 and its 200 day moving average price is $17.29. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.01 and a beta of 0.52. PennyMac Mortgage Investment Trust has a 52 week low of $14.28 and a 52 week high of $18.46.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, July 11th. This represents a $1.88 annualized dividend and a dividend yield of 10.57%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 150.40%.

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In other news, CEO David Spector sold 8,235 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, June 5th. The shares were sold at an average price of $17.59, for a total transaction of $144,853.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew S. Chang sold 1,937 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, June 5th. The stock was sold at an average price of $17.64, for a total transaction of $34,168.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,626 shares of company stock valued at $222,229. Corporate insiders own 1.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted 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 during the period. Norges Bank bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $13,286,000. Goldman Sachs Group Inc. boosted 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 during the period. UBS Group AG boosted its stake in shares of PennyMac Mortgage Investment Trust by 27.3% in the first quarter. UBS Group AG now owns 1,456,733 shares of the real estate investment trust’s stock worth $25,857,000 after buying an additional 312,290 shares during the period. Finally, Algebris Investments UK LLP bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth $6,037,000. 57.23% of the stock is 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.

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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