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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average rating of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.8750.

A number of equities research analysts recently commented on the stock. UBS Group lifted their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. 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, December 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday, December 29th.

PennyMac Mortgage Investment Trust Stock Up 1.3%

Shares of PennyMac Mortgage Investment Trust stock opened at $13.45 on Friday. PennyMac Mortgage Investment Trust has a one year low of $11.60 and a one year high of $14.93. The company has a market cap of $1.17 billion, a P/E ratio of 14.77, a PEG ratio of 1.09 and a beta of 1.27. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average of $12.71 and a two-hundred day moving average of $12.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results 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 net margin of 37.92% and a return on equity of 9.01%. The business had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.91 million. On average, analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 175.82%.

Insider Buying and Selling

In related news, CEO David Spector acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $12.40 per share, with a total value 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 represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 1,586.5% during the 4th quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock worth $6,613,000 after acquiring an additional 495,704 shares in the last quarter. Barclays PLC raised its holdings in PennyMac Mortgage Investment Trust by 93.2% during the third quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after purchasing an additional 478,947 shares during the last quarter. Millennium Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 41.8% during the third quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock worth $16,418,000 after purchasing an additional 394,497 shares during the last quarter. Jane Street Group LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter worth $4,166,000. Finally, Marshall Wace LLP grew its holdings in PennyMac Mortgage Investment Trust by 48.4% in the third quarter. Marshall Wace LLP now owns 869,015 shares of the real estate investment trust’s stock valued at $10,654,000 after purchasing an additional 283,569 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

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.