PennyMac Mortgage Investment Trust (PMT) Given Average Rating of “Hold” by Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT) has earned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.50.

A number of analysts have issued reports on PMT shares. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 30th. ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $19.00 to $18.00 in a research report on Tuesday, October 10th.

Shares of PennyMac Mortgage Investment Trust (PMT) traded down $0.15 on Friday, hitting $15.70. The company’s stock had a trading volume of 377,029 shares, compared to its average volume of 545,208. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46. The firm has a market cap of $1,030.00, a P/E ratio of 11.98 and a beta of 0.52. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The company had revenue of $75.80 million during the quarter, compared to analyst estimates of $81.72 million. During the same period last year, the business earned $1.06 earnings per share. The firm’s revenue was down 26.6% compared to the same quarter last year. equities analysts expect that PennyMac Mortgage Investment Trust will post 1.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.97%. The ex-dividend date of this dividend was Thursday, December 28th. PennyMac Mortgage Investment Trust’s payout ratio is 143.51%.

PennyMac Mortgage Investment Trust announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 20th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Large investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of PennyMac Mortgage Investment Trust by 20,756.3% during the 3rd quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 6,642 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of PennyMac Mortgage Investment Trust by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 304 shares during the last quarter. M&T Bank Corp increased its position in shares of PennyMac Mortgage Investment Trust by 4.8% during the 2nd quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 500 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 14,489 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 817 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of PennyMac Mortgage Investment Trust by 45.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,621 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 4,575 shares during the last quarter. 62.95% of the stock is owned by hedge funds and other institutional investors.

WARNING: “PennyMac Mortgage Investment Trust (PMT) Given Average Rating of “Hold” by Brokerages” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/27/pennymac-mortgage-investment-trust-pmt-given-average-rating-of-hold-by-brokerages.html.

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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