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

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

PMT has been the subject of several research reports. B. Riley restated a “buy” rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Piper Sandler reduced their price target on 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. JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT opened at $14.25 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $1.24 billion, a P/E ratio of 9.50 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The stock has a 50 day moving average of $13.91 and a 200-day moving average of $14.02.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.23%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 106.67%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 2,879 shares of company stock valued at $39,028 in the last ninety days. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of PMT. Jane Street Group LLC grew its position in PennyMac Mortgage Investment Trust by 124.7% in the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after acquiring an additional 161,723 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in PennyMac Mortgage Investment Trust by 173.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock worth $2,280,000 after purchasing an additional 98,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Mortgage Investment Trust by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,869 shares of the real estate investment trust’s stock valued at $20,345,000 after purchasing an additional 61,287 shares during the last quarter. QRG Capital Management Inc. bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $302,000. Finally, ProShare Advisors LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,207 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.