PennyMac Mortgage Investment Trust (NYSE:PMT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 6th. Keefe, Bruyette & Woods restated 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. Finally, Credit Suisse Group upped their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.46.

Shares of PennyMac Mortgage Investment Trust (PMT) traded up 0.06% during trading on Friday, reaching $17.73. The company had a trading volume of 351,390 shares. PennyMac Mortgage Investment Trust has a 1-year low of $14.28 and a 1-year high of $18.46. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 13.97 and a beta of 0.52. The company’s 50 day moving average is $17.83 and its 200-day moving average is $17.29.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Thursday, July 13th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $1.88 annualized dividend and a dividend yield of 10.60%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 150.40%.

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In related news, CFO Andrew S. Chang sold 1,937 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $17.64, for a total transaction of $34,168.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Spector sold 8,235 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $17.59, for a total transaction of $144,853.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,626 shares of company stock valued at $222,229. Insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 23.0% in the second quarter. Eqis Capital Management Inc. now owns 14,572 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 2,725 shares in the last quarter. Creative Planning boosted its stake in shares of PennyMac Mortgage Investment Trust by 19.1% in the second quarter. Creative Planning now owns 13,088 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 2,100 shares in the last quarter. Ranger Global Real Estate Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at about $2,430,000. 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 valued at $55,967,000 after buying an additional 768,444 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at about $526,000. Hedge funds and other institutional investors own 57.23% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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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