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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been given an average recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.80.

Several analysts recently weighed in on the company. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Wells Fargo & Company reduced their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Zacks Research downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of PennyMac Mortgage Investment Trust by 1,586.5% during the fourth quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock worth $6,613,000 after purchasing an additional 495,704 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $867,000. Public Sector Pension Investment Board grew its stake in PennyMac Mortgage Investment Trust by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 339,375 shares of the real estate investment trust’s stock worth $4,161,000 after buying an additional 42,720 shares during the last quarter. Dana Investment Advisors Inc. increased its position in PennyMac Mortgage Investment Trust by 10.2% during the 3rd quarter. Dana Investment Advisors Inc. now owns 525,337 shares of the real estate investment trust’s stock valued at $6,441,000 after buying an additional 48,618 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in PennyMac Mortgage Investment Trust by 319.3% during the 4th quarter. Intech Investment Management LLC now owns 315,415 shares of the real estate investment trust’s stock valued at $3,958,000 after buying an additional 240,197 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.0%

Shares of NYSE PMT opened at $10.13 on Monday. PennyMac Mortgage Investment Trust has a 52-week low of $9.83 and a 52-week high of $13.81. The firm has a market capitalization of $882.90 million, a price-to-earnings ratio of 8.80, a PEG ratio of 0.62 and a beta of 1.15. The stock has a 50 day moving average price of $11.10 and a 200 day moving average price of $11.99. The company has a debt-to-equity ratio of 7.99, a quick ratio of 1.39 and a current ratio of 1.39.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The firm had revenue of $82.29 million for the quarter, compared to the consensus estimate of $92.92 million. Sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.21 earnings per share for the current year.

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.