PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Recommendation of “Hold” by Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average rating of “Hold” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $12.80.

Several research firms have recently weighed in on PMT. Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Piper Sandler lowered their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Wells Fargo & Company lowered their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its holdings in 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 worth $25,000 after acquiring an additional 1,285 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter worth $33,000. GAMMA Investing LLC grew its holdings in PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC grew its holdings in PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,815 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.1%

Shares of PMT opened at $10.26 on Monday. The stock has a market cap of $894.93 million, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.63 and a beta of 1.15. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99. PennyMac Mortgage Investment Trust has a 12 month low of $9.83 and a 12 month high of $13.81. The company has a 50-day moving average price of $10.93 and a two-hundred day moving average price of $11.91.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The business had revenue of $233.25 million for the quarter, compared to the consensus estimate of $92.92 million. PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.21 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.6%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 139.13%.

PennyMac Mortgage Investment Trust Company Profile

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.