Analysts Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $14.93

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on 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.

PMT has been the topic of several analyst reports. Keefe, Bruyette & Woods decreased their price target on 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. Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Finally, B. Riley reiterated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $13.06 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $12.81 and a 52-week high of $15.89. The stock’s 50-day simple moving average is $13.88 and its 200 day simple moving average is $13.93. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.60 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.85 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced 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). 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 during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm 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. This represents a $1.60 annualized dividend and a dividend yield of 12.25%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. This represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake 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 worth $4,277,000 after buying an additional 161,723 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 173.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock worth $2,280,000 after buying an additional 98,500 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 105.8% during the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock valued at $6,578,000 after purchasing an additional 237,210 shares during the period. International Assets Investment Management LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 1,607.2% during the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after purchasing an additional 346,358 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at approximately $302,000. 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.