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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.17.

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $12.55 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 12 month low of $12.46 and a 12 month high of $15.41. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 9.23 and a beta of 1.50. The company’s 50 day moving average is $13.38 and its two-hundred day moving average is $13.75.

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

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.75%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in PennyMac Mortgage Investment Trust during the third quarter valued at approximately $28,000. Simplify Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $143,000. Aigen Investment Management LP bought a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at approximately $152,000. Allspring Global Investments Holdings LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at $177,000. Finally, Caprock Group LLC increased its position in PennyMac Mortgage Investment Trust by 9.3% in the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 1,156 shares during the last quarter. Hedge funds and other 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.