Citizens Jmp Issues Pessimistic Forecast for PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Price

PennyMac Mortgage Investment Trust (NYSE:PMT) had its target price dropped by investment analysts at Citizens Jmp from $15.50 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective would suggest a potential upside of 11.98% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of 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 research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday. 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 research report on Friday, October 24th. Finally, Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Stock Up 1.2%

Shares of NYSE PMT opened at $13.40 on Thursday. PennyMac Mortgage Investment Trust has a 52-week low of $11.60 and a 52-week high of $14.93. 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 business has a fifty day moving average of $12.85 and a two-hundred day moving average of $12.48. The stock has a market cap of $1.17 billion, a PE ratio of 14.72, a PEG ratio of 1.09 and a beta of 1.27.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, topping 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 analyst estimates of $97.91 million. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, CEO David Spector purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the completion of the purchase, the chief executive officer directly owned 357,794 shares of the company’s stock, valued at $4,436,645.60. The trade was a 2.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 36.7% in the 1st quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 4,335 shares during the last quarter. Jane Street Group LLC acquired a new position in PennyMac Mortgage Investment Trust in the first quarter valued at approximately $4,166,000. Intech Investment Management LLC lifted its holdings in PennyMac Mortgage Investment Trust by 1.3% in the first quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust’s stock valued at $1,601,000 after buying an additional 1,411 shares during the period. Strs Ohio bought a new position in PennyMac Mortgage Investment Trust in the first quarter valued at approximately $240,000. Finally, Maridea Wealth Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 2.7% during the 2nd quarter. Maridea Wealth Management LLC now owns 41,578 shares of the real estate investment trust’s stock worth $535,000 after acquiring an additional 1,085 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.