PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) has earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.41.
Several research firms have recently commented on PMT. JMP Securities decreased their target price on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Tuesday. Jonestrading began coverage on PennyMac Mortgage Investment Trust in a research report on Friday, January 7th. They issued a “buy” rating and a $20.50 target price on the stock. BTIG Research raised PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $18.50 target price on the stock in a research report on Friday, January 7th. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 7th. Finally, Barclays cut their price target on PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a research note on Monday, January 10th.
In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan purchased 15,650 shares of the stock in a transaction dated Thursday, February 24th. The stock was bought at an average price of $15.02 per share, with a total value of $235,063.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott W. Carnahan sold 1,785 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $15.71, for a total value of $28,042.35. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. increased its holdings in PennyMac Mortgage Investment Trust by 14.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 44,232 shares of the real estate investment trust’s stock worth $747,000 after purchasing an additional 5,564 shares in the last quarter. SG Americas Securities LLC increased its holdings in PennyMac Mortgage Investment Trust by 342.8% in the 1st quarter. SG Americas Securities LLC now owns 29,742 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 23,025 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 27.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 66,846 shares of the real estate investment trust’s stock worth $1,129,000 after purchasing an additional 14,456 shares in the last quarter. Concorde Asset Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 66.4% in the 1st quarter. Concorde Asset Management LLC now owns 112,415 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 44,851 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 14.9% in the 1st quarter. Transcend Capital Advisors LLC now owns 33,635 shares of the real estate investment trust’s stock worth $568,000 after purchasing an additional 4,360 shares in the last quarter. 70.84% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE PMT opened at $15.34 on Friday. The business’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $17.40. The company has a market cap of $1.49 billion, a PE ratio of 59.00 and a beta of 1.13. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.11. PennyMac Mortgage Investment Trust has a twelve month low of $14.61 and a twelve month high of $21.53.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) last posted its earnings results on Thursday, February 3rd. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.77). PennyMac Mortgage Investment Trust had a net margin of 13.53% and a return on equity of 2.89%. During the same period last year, the company posted $0.78 earnings per share. As a group, research analysts anticipate that PennyMac Mortgage Investment Trust will post 2.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Stockholders of record on Friday, April 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 12.26%. PennyMac Mortgage Investment Trust’s payout ratio is 723.10%.
About PennyMac Mortgage Investment Trust (Get Rating)
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.
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