JMP Securities Reaffirms Market Outperform Rating for PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $15.00 target price on the real estate investment trust’s stock. JMP Securities’ target price would suggest a potential upside of 10.58% from the company’s current price.

Other equities analysts have also issued research reports about the company. B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.58.

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT opened at $13.57 on Thursday. The business’s fifty day moving average price is $14.05 and its 200 day moving average price is $13.90. The firm has a market capitalization of $1.18 billion, a PE ratio of 8.43 and a beta of 1.48. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 7.3% during the fourth quarter. Squarepoint Ops LLC now owns 11,926 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 815 shares during the period. Allspring Global Investments Holdings LLC lifted its position in PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,115 shares during the period. PNC Financial Services Group Inc. lifted its position in PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 1,137 shares during the period. Blair William & Co. IL lifted its position in PennyMac Mortgage Investment Trust by 9.9% in the first quarter. Blair William & Co. IL now owns 12,741 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 1,150 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in PennyMac Mortgage Investment Trust by 2.9% in the first quarter. Commonwealth Equity Services LLC now owns 42,460 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 1,201 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.