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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.93.

Separately, Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.51 on Thursday. The stock’s 50-day simple moving average is $13.70 and its 200 day simple moving average is $13.81. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.93 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 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 issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period last year, the company posted $0.51 EPS. Research analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.84%. The ex-dividend date was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is presently 117.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its stake in shares of PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 800 shares during the period. QRG Capital Management Inc. raised its stake in PennyMac Mortgage Investment Trust by 5.0% during the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 1,093 shares during the last quarter. Inspire Investing LLC raised its stake in PennyMac Mortgage Investment Trust by 4.7% during the second quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock valued at $352,000 after buying an additional 1,144 shares during the last quarter. Caprock Group LLC raised its stake in PennyMac Mortgage Investment Trust by 9.3% during the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 1,156 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in PennyMac Mortgage Investment Trust by 2.2% during the second quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock valued at $992,000 after buying an additional 1,553 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.