PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Recommendation of "Hold" from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.93.

A number of equities research analysts have commented on the company. B. Riley reissued a "buy" rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price target 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. Wedbush reiterated a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. JMP Securities upped their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a research note on Wednesday, July 24th.

PennyMac Mortgage Investment Trust Price Performance

PMT stock traded up $0.01 during mid-day trading on Friday, hitting $13.44. The stock had a trading volume of 1,367,312 shares, compared to its average volume of 743,578. The firm has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $13.96. The firm has a market capitalization of $1.17 billion, a P/E ratio of 9.88 and a beta of 1.51. 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 52 week low of $12.81 and a 52 week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data 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). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, research analysts forecast 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 paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.90%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 117.65%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction 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 approximately $688,087.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its position in PennyMac Mortgage Investment Trust by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust's stock valued at $601,000 after acquiring an additional 800 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust's stock valued at $328,000 after purchasing an additional 1,093 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 4.7% in the 2nd quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust's stock worth $352,000 after purchasing an additional 1,144 shares during the period. Caprock Group LLC boosted its holdings in shares of 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 buying an additional 1,156 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew 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 buying an additional 1,179 shares during the period. 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.