PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Neutral Rating from Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Wedbush in a report released on Thursday, Benzinga reports. They currently have a $15.00 price target on the real estate investment trust's stock. Wedbush's price objective suggests a potential upside of 8.77% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. 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 on the stock in a research note on Thursday, July 25th. B. Riley reaffirmed a "buy" rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. JMP Securities increased their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a research note on Friday, July 19th. Finally, Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Trading Up 2.0 %

PMT stock traded up $0.27 during trading on Thursday, hitting $13.79. The company had a trading volume of 1,043,317 shares, compared to its average volume of 732,664. The firm has a 50-day moving average price of $14.04 and a 200-day moving average price of $13.97. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.10 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period last year, the company earned $0.51 EPS. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have purchased 2,879 shares of company stock valued at $39,028. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its stake 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 worth $601,000 after acquiring an additional 800 shares in the last quarter. Inspire Investing LLC raised its holdings 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 worth $352,000 after acquiring an additional 1,144 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in PennyMac Mortgage Investment Trust by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust's stock valued at $1,113,000 after purchasing an additional 1,179 shares during the last quarter. ProShare Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of PennyMac Mortgage Investment Trust by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust's stock worth $992,000 after purchasing an additional 1,553 shares during the last quarter. Institutional investors and hedge funds 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.