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

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $15.17.

Separately, Wedbush restated a "neutral" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th.

PennyMac Mortgage Investment Trust Stock Down 0.9 %

Shares of PennyMac Mortgage Investment Trust stock traded down $0.11 during trading hours on Monday, reaching $12.44. 926,469 shares of the company were exchanged, compared to its average volume of 736,001. PennyMac Mortgage Investment Trust has a 1 year low of $12.33 and a 1 year high of $15.22. The firm has a market cap of $1.08 billion, a PE ratio of 9.15 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock's fifty day moving average is $13.36 and its 200 day moving average is $13.74.

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 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.51 earnings per share. As a group, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.86%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 1.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust's stock valued at $17,386,000 after purchasing an additional 18,122 shares during the last quarter. Principal Financial Group Inc. increased its position in PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust's stock worth $7,221,000 after buying an additional 77,955 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in PennyMac Mortgage Investment Trust in the third quarter valued at approximately $28,000. Geode Capital Management LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.6% in the third quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust's stock valued at $28,838,000 after acquiring an additional 31,479 shares during the period. Finally, Vestcor Inc grew its position in shares of PennyMac Mortgage Investment Trust by 136.5% during the third quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust's stock worth $1,021,000 after acquiring an additional 41,300 shares during the last quarter. 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.