PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $14.93 Consensus PT from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT) has received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.93.

Several brokerages recently issued reports on PMT. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. JMP Securities boosted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler reduced their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $14.06 on Wednesday. The company has a market capitalization of $1.22 billion, a PE ratio of 9.31 and a beta of 1.51. The stock’s 50 day moving average is $14.02 and its two-hundred day moving average is $13.98. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same quarter in the previous year, the business posted $0.16 earnings per share. Analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.38%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 105.96%.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 2,879 shares of company stock valued at $39,028 over the last three months. 0.89% of the stock is owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of large investors have recently bought and sold shares of PMT. Roble Belko & Company Inc bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. EntryPoint Capital LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 5,015 shares in the last quarter. Entropy Technologies LP bought a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $157,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at $177,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.