PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) has been given an average rating of “Hold” by the ten brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.91.
Several brokerages have weighed in on PMT. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 7th. Piper Sandler lowered their price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Barclays lowered their price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a report on Monday, January 10th. BTIG Research raised shares of PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $18.50 price target on the stock in a report on Friday, January 7th. Finally, StockNews.com began coverage on shares of PennyMac Mortgage Investment Trust in a report on Thursday, March 31st. They set a “sell” rating on the stock.
In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 1,785 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $15.71, for a total transaction of $28,042.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marianne Sullivan acquired 15,650 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were purchased at an average price of $15.02 per share, for a total transaction of $235,063.00. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $36,000. Steward Partners Investment Advisory LLC increased its stake in PennyMac Mortgage Investment Trust by 1,116.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,350 shares during the period. Penserra Capital Management LLC purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $84,000. Capital Square LLC bought a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth about $189,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth about $191,000. 70.84% of the stock is currently owned by institutional investors.
Shares of PMT traded down $0.12 on Tuesday, reaching $15.95. The company’s stock had a trading volume of 1,308,083 shares, compared to its average volume of 993,648. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $1.55 billion, a P/E ratio of 61.35 and a beta of 1.13. The stock’s 50 day simple moving average is $16.25 and its two-hundred day simple moving average is $17.82. PennyMac Mortgage Investment Trust has a 12-month low of $14.73 and a 12-month high of $21.53.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) last posted its quarterly earnings data on Thursday, February 3rd. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.77). PennyMac Mortgage Investment Trust had a return on equity of 2.89% and a net margin of 13.53%. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts expect that PennyMac Mortgage Investment Trust will post 2.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 28th. Investors of record on Friday, April 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.79%. The ex-dividend date of this dividend is Wednesday, April 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 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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