PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.8750.

PMT has been the topic of a number of recent analyst reports. UBS Group increased their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective for the company in a research report on Thursday, December 18th. Finally, Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st.

Insider Activity at PennyMac Mortgage Investment Trust

In other news, CEO David Spector bought 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the transaction, the chief executive officer owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% 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 PMT. SG Americas Securities LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 1,586.5% during the fourth quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock worth $6,613,000 after buying an additional 495,704 shares during the last quarter. Barclays PLC lifted its position in PennyMac Mortgage Investment Trust by 93.2% during the 3rd quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after acquiring an additional 478,947 shares during the period. Millennium Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 41.8% in the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock valued at $16,418,000 after purchasing an additional 394,497 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the first quarter valued at approximately $4,166,000. Finally, Marshall Wace LLP increased its holdings in shares of PennyMac Mortgage Investment Trust by 48.4% in the third quarter. Marshall Wace LLP now owns 869,015 shares of the real estate investment trust’s stock valued at $10,654,000 after purchasing an additional 283,569 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $13.45 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.09 and a beta of 1.27. The firm’s fifty day simple moving average is $12.71 and its 200-day simple moving average is $12.46. PennyMac Mortgage Investment Trust has a twelve month low of $11.60 and a twelve month high of $14.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.The firm had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. Equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, December 26th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.9%. The ex-dividend date is Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 175.82%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.