PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.17.

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 822 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 5.0% in the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 1,093 shares in the last quarter. Inspire Investing LLC boosted its holdings in PennyMac Mortgage Investment Trust by 4.7% in the second quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 1,144 shares during the last quarter. Caprock Group LLC grew its stake in PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in PennyMac Mortgage Investment Trust by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock worth $992,000 after purchasing an additional 1,553 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Trading Up 1.1 %

PMT stock opened at $12.70 on Monday. PennyMac Mortgage Investment Trust has a 52 week low of $12.33 and a 52 week high of $15.22. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 9.34 and a beta of 1.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $13.27 and a 200-day simple moving average of $13.71.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released 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). 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 firm earned $0.51 earnings per share. On average, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be paid 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 dividend yield of 12.60%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

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.