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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.75.

PMT has been the subject of several recent research reports. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Citizens Jmp dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Finally, UBS Group boosted their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, CEO David Spector purchased 10,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the purchase, the chief executive officer owned 357,794 shares in the company, valued at $4,436,645.60. The trade was a 2.88% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently made changes to their positions in PMT. Flagship Harbor Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $26,000. Allworth Financial LP lifted its position in shares of PennyMac Mortgage Investment Trust by 1,741.7% in the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,003 shares during the period. GAMMA Investing LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,815 shares in the last quarter. Finally, CWM LLC increased its holdings in PennyMac Mortgage Investment Trust by 57.7% in the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 1,077 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $12.14 on Tuesday. The firm has a 50 day simple moving average of $12.84 and a 200 day simple moving average of $12.46. PennyMac Mortgage Investment Trust has a 52 week low of $11.60 and a 52 week high of $14.93. The stock has a market cap of $1.06 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 0.64.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analyst estimates of $96.96 million. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, December 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend was Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 163.27%.

PennyMac Mortgage Investment Trust Company Profile

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.