PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Rating of “Hold” from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus rating of “Hold” by the seven brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.93.

PMT has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.06 on Friday. The firm has a 50 day moving average price of $13.88 and a two-hundred day moving average price of $13.93. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 9.60 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.85 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a 52-week low of $12.81 and a 52-week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.25%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 117.65%.

Insiders Place Their Bets

In other news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 5,015 shares during the period. Simplify Asset Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth $143,000. Entropy Technologies LP bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth $149,000. Aigen Investment Management LP bought a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth $152,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth $157,000. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.