PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Recommendation of "Hold" from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been given a consensus recommendation of "Hold" by the seven brokerages that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.93.

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

PennyMac Mortgage Investment Trust Trading Down 0.7 %

PMT traded down $0.09 during mid-day trading on Thursday, hitting $13.42. The stock had a trading volume of 448,762 shares, compared to its average volume of 724,908. The stock's fifty day simple moving average is $13.69 and its 200-day simple moving average is $13.81. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.87 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 1-year low of $12.81 and a 1-year high of $15.89. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results 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). The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.92%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in PennyMac Mortgage Investment Trust by 124.7% during 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 during the last quarter. QRG Capital Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at about $302,000. Louisiana State Employees Retirement System lifted its stake in PennyMac Mortgage Investment Trust by 1.9% in 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. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 9,506 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in PennyMac Mortgage Investment Trust during the second quarter worth approximately $177,000. Institutional investors and hedge funds 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.