Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.50.

PMT has been the subject of several recent research reports. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. ValuEngine lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $18.00 in a research note on Tuesday, October 10th. Finally, BidaskClub raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th.

PennyMac Mortgage Investment Trust (NYSE PMT) traded down $0.02 during mid-day trading on Friday, reaching $16.01. 589,100 shares of the company traded hands, compared to its average volume of 479,916. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $18.46. The firm has a market capitalization of $1,050.00, a price-to-earnings ratio of 11.24 and a beta of 0.52. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 EPS for the quarter, missing the 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 business had revenue of $75.80 million for the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.32 earnings per share for the current year.

In other news, insider David Spector sold 18,750 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total transaction of $330,187.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 75,000 shares of company stock worth $1,299,563 in the last 90 days. 2.08% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its holdings in shares of PennyMac Mortgage Investment Trust by 30.1% during the second quarter. Martingale Asset Management L P now owns 246,523 shares of the real estate investment trust’s stock valued at $4,509,000 after acquiring an additional 57,101 shares during the period. Cipher Capital LP increased its stake in PennyMac Mortgage Investment Trust by 25.8% in the 2nd quarter. Cipher Capital LP now owns 233,707 shares of the real estate investment trust’s stock valued at $4,274,000 after buying an additional 47,900 shares during the period. Ramsey Quantitative Systems acquired a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $315,000. IndexIQ Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 11.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 77,310 shares of the real estate investment trust’s stock valued at $1,414,000 after buying an additional 8,155 shares during the period. Finally, BlackRock Inc. increased its stake in PennyMac Mortgage Investment Trust by 0.3% in the 2nd quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock valued at $115,585,000 after buying an additional 17,300 shares during the period. Institutional investors and hedge funds own 62.95% of the company’s stock.

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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.

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