PennyMac Mortgage Investment Trust (NYSE:PMT) Given New $14.50 Price Target at Piper Sandler

PennyMac Mortgage Investment Trust (NYSE:PMT) had its price target decreased by analysts at Piper Sandler from $15.00 to $14.50 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 6.93% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. JMP Securities boosted 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. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $15.50 in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Trading Up 1.8 %

Shares of PMT stock opened at $13.56 on Wednesday. The stock has a fifty day simple moving average of $13.92 and a two-hundred day simple moving average of $14.13. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.04 and a beta of 1.51. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.26% and a net margin of 47.60%. The business had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same quarter in the prior year, the business posted $0.16 EPS. On average, analysts predict that PennyMac Mortgage Investment Trust will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in PennyMac Mortgage Investment Trust by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock worth $10,895,000 after acquiring an additional 9,506 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of PennyMac Mortgage Investment Trust by 1.9% during 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 last quarter. QRG Capital Management Inc. bought a new position in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at approximately $302,000. Jane Street Group LLC raised its holdings in PennyMac Mortgage Investment Trust by 124.7% during the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after buying an additional 161,723 shares during the period. Finally, EntryPoint Capital LLC lifted its position in PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 5,015 shares during the last quarter. 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.