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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $12.10.

A number of brokerages recently issued reports on PMT. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Zacks Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $9.38 on Tuesday. The company’s 50-day moving average price is $10.09 and its two-hundred day moving average price is $11.19. The firm has a market cap of $817.94 million, a P/E ratio of 6.61, a P/E/G ratio of 0.64 and a beta of 1.14. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.18. PennyMac Mortgage Investment Trust has a 12 month low of $9.05 and a 12 month high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). The firm had revenue of ($46.00) million for the quarter, compared to the consensus estimate of $93.93 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.12 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 17.1%. The ex-dividend date was Thursday, July 9th. PennyMac Mortgage Investment Trust’s payout ratio is currently 112.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $26,000. Bessemer Group Inc. increased its position 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 purchasing an additional 1,285 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $33,000. Clearstead Advisors LLC lifted its stake in PennyMac Mortgage Investment Trust by 184.3% in the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,815 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in PennyMac Mortgage Investment Trust by 200.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

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.