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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.8750.

PMT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 15th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a report on Thursday. UBS Group boosted their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company initiated coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price target on the stock.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.15 on Monday. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. PennyMac Mortgage Investment Trust has a 52 week low of $11.60 and a 52 week high of $14.93. The stock has a market capitalization of $1.14 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.28. The stock has a fifty day moving average of $12.44 and a 200-day moving average of $12.42.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.The business had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. On average, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, December 26th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.2%. The ex-dividend date is Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 175.82%.

Insider Activity

In other PennyMac Mortgage Investment Trust news, CEO David Spector purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the acquisition, the chief executive officer owned 357,794 shares in the company, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new stake in PennyMac Mortgage Investment Trust in the second quarter worth approximately $25,000. Allworth Financial LP grew its stake in shares of PennyMac Mortgage Investment Trust by 1,741.7% in the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,003 shares during the period. Signaturefd LLC increased its position in PennyMac Mortgage Investment Trust by 53.8% in the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 870 shares in the last quarter. CWM LLC raised its stake in PennyMac Mortgage Investment Trust by 57.7% during the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 1,077 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in PennyMac Mortgage Investment Trust by 196.5% in the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,162 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.