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

PennyMac Mortgage Investment Trust (NYSE:PMT) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $14.50.

PMT has been the subject of several analyst reports. UBS Group dropped their target price on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Jones Trading restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a research note on Thursday, April 24th.

Insider Activity

In related news, Director Catherine A. Lynch bought 2,878 shares of the stock in a transaction dated Thursday, April 24th. The stock was acquired at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the purchase, the director now owns 49,254 shares in the company, valued at $598,436.10. This represents a 6.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently modified their holdings of PMT. Rialto Wealth Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at about $25,000. Principal Securities Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,288 shares during the last quarter. GAMMA Investing LLC grew its stake in PennyMac Mortgage Investment Trust by 204.0% during the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,363 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $36,000. Finally, Allworth Financial LP acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.6%

Shares of NYSE:PMT opened at $12.31 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.98. The stock’s fifty day simple moving average is $12.85 and its 200-day simple moving average is $13.28. The company has a market capitalization of $1.07 billion, a P/E ratio of 9.26 and a beta of 1.32.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

About PennyMac Mortgage Investment Trust

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.