PennyMac Mortgage Investment Trust (NYSE:PMT) Given New $13.00 Price Target at UBS Group

PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) had its price target trimmed by UBS Group from $13.25 to $13.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust's stock.

Separately, JMP Securities restated a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of "Moderate Buy" and a consensus target price of $14.83.

PennyMac Mortgage Investment Trust Stock Up 2.3 %

NYSE:PMT traded up $0.30 on Wednesday, reaching $12.99. The stock had a trading volume of 719,979 shares, compared to its average volume of 798,624. The company has a 50-day moving average of $14.01 and a 200 day moving average of $13.54. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.13 billion, a P/E ratio of 9.76 and a beta of 1.17. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.32%. PennyMac Mortgage Investment Trust's payout ratio is currently 120.30%.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 14,530 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now owns 64,082 shares in the company, valued at $929,189. This represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in PennyMac Mortgage Investment Trust by 167.5% during the 4th quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock valued at $27,369,000 after purchasing an additional 1,361,282 shares in the last quarter. Norges Bank acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth about $5,212,000. Northern Trust Corp raised its position in PennyMac Mortgage Investment Trust by 28.6% in the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock worth $14,420,000 after acquiring an additional 254,581 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $2,461,000. Finally, Renaissance Technologies LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $2,139,000. 67.38% of the stock is currently owned by institutional investors.

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.