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.
Further Reading
Want More Great Investing Ideas?
Receive News & Ratings for PennyMac Mortgage Investment Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com’s FREE daily email newsletter.
More Stories
US home sales continue to stumble as mortgage rates keep climbing
Hong Kong home prices reverse 3-month drop to climb 0.5% in April By Reuters
Home sales tumble again as mortgage rates surge