PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $14.93 Average Target Price from Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned a consensus rating of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.93.

Several equities research analysts recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Piper Sandler lowered their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. JMP Securities lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th.

PennyMac Mortgage Investment Trust Stock Down 2.1 %

PennyMac Mortgage Investment Trust stock opened at $13.21 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 1-year low of $12.81 and a 1-year high of $15.89. The firm’s fifty day simple moving average is $13.94 and its 200-day simple moving average is $13.95. The company has a market capitalization of $1.15 billion, a P/E ratio of 9.71 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results 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 for 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 last year, the business earned $0.51 earnings per share. Sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.12%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Insider Activity

In related news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC boosted its position 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 valued at $103,000 after acquiring an additional 5,015 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the third quarter valued at approximately $143,000. Entropy Technologies LP bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $149,000. Aigen Investment Management LP bought a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at approximately $152,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $157,000. Institutional investors 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.