PennyMac Mortgage Investment Trust (NYSE:PMT) Rating Reiterated by Wedbush

Wedbush reiterated their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research report sent to investors on Monday morning, Benzinga reports. Wedbush currently has a $15.00 price target on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a hold rating and a $15.00 target price on the stock. B. Riley raised their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, JMP Securities reissued a market outperform rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $14.75.

PennyMac Mortgage Investment Trust Trading Down 0.6 %

Shares of PMT stock opened at $14.02 on Monday. The business’s 50 day moving average is $14.10 and its two-hundred day moving average is $14.01. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a market capitalization of $1.22 billion, a P/E ratio of 9.34 and a beta of 1.48. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.42%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of PMT. Roble Belko & Company Inc acquired a new position in PennyMac Mortgage Investment Trust during the first quarter worth $29,000. National Bank of Canada FI raised its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 acquiring an additional 1,115 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at $125,000. Finally, Essex Financial Services Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $150,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.