PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s share price reached a new 52-week low on Tuesday . The stock traded as low as $11.77 and last traded at $12.01, with a volume of 1064797 shares. The stock had previously closed at $12.11.
Analysts Set New Price Targets
Separately, Wedbush reaffirmed a "neutral" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.
Check Out Our Latest Stock Report on PMT
PennyMac Mortgage Investment Trust Price Performance
The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1.05 billion, a P/E ratio of 8.91 and a beta of 1.50. The company has a fifty day moving average price of $13.12 and a two-hundred day moving average price of $13.65.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period in the prior year, the business earned $0.51 EPS. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 13.20%. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.
Institutional Investors Weigh In On PennyMac Mortgage Investment Trust
Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in PennyMac Mortgage Investment Trust by 1.6% in the 3rd 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 buying an additional 31,479 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust's stock worth $20,771,000 after purchasing an additional 18,368 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PennyMac Mortgage Investment Trust by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust's stock valued at $17,386,000 after buying an additional 18,122 shares in the last quarter. Principal Financial Group Inc. grew 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 in the last quarter. Finally, Wolverine Asset Management LLC increased its stake in PennyMac Mortgage Investment Trust by 105.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust's stock worth $6,578,000 after acquiring an additional 237,210 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.
About PennyMac Mortgage Investment Trust
(
Get Free Report)
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.
Recommended Stories
Before you consider PennyMac Mortgage Investment Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PennyMac Mortgage Investment Trust wasn't on the list.
While PennyMac Mortgage Investment Trust currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
