PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Lowered by Keefe, Bruyette & Woods

PennyMac Mortgage Investment Trust (NYSE:PMT) was downgraded by Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, March 27th. Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday. Citizens Jmp lowered their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 22nd. Piper Sandler lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.10.

PennyMac Mortgage Investment Trust Stock Down 0.7%

PMT opened at $11.01 on Thursday. PennyMac Mortgage Investment Trust has a 12 month low of $10.86 and a 12 month high of $13.81. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.12. The stock has a market cap of $959.64 million, a P/E ratio of 9.57, a P/E/G ratio of 0.54 and a beta of 1.19. The stock’s 50 day moving average price is $11.82 and its 200 day moving average price is $12.35.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The business had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. As a group, research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 142.1% during the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. Sharpepoint LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 19.6% in the 1st quarter. Sharpepoint LLC now owns 86,253 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 14,139 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 422,973 shares of the real estate investment trust’s stock worth $4,932,000 after purchasing an additional 8,234 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 17.0% in the 1st quarter. QRG Capital Management Inc. now owns 13,123 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 1,905 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of PennyMac Mortgage Investment Trust by 5.4% in the 1st quarter. New York State Teachers Retirement System now owns 133,260 shares of the real estate investment trust’s stock worth $1,554,000 after purchasing an additional 6,827 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.