PennyMac Mortgage Investment Trust (PMT) Given Consensus Rating of “Hold” by Brokerages
Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been given an average rating of “Hold” by the seven research firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.33.
A number of research analysts have recently commented on PMT shares. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub lowered shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. ValuEngine lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th.
In related news, insider David Spector sold 18,750 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $16.91, for a total value of $317,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 75,000 shares of company stock valued at $1,299,563 in the last three months. Company insiders own 1.80% of the company’s stock.
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PennyMac Mortgage Investment Trust (NYSE:PMT) traded down $0.10 during mid-day trading on Monday, reaching $15.16. 500,900 shares of the company’s stock were exchanged, compared to its average volume of 621,524. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.78 and a quick ratio of 0.78. PennyMac Mortgage Investment Trust has a one year low of $14.87 and a one year high of $18.46. The company has a market capitalization of $994.01, a PE ratio of 10.68 and a beta of 0.54.
PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. The firm had revenue of $75.80 million for the quarter, compared to the consensus estimate of $81.72 million. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue was down 26.6% on a year-over-year basis. equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 13th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.40%. The ex-dividend date was Thursday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 132.39%.
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.
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