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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average rating of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.75.

PMT has been the subject of a number of recent research reports. 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 note on Thursday, December 18th. Citizens Jmp cut their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday. Finally, Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $11.66 on Wednesday. The firm has a market capitalization of $1.01 billion, a PE ratio of 11.89, a P/E/G ratio of 1.00 and a beta of 1.25. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.55. The company has a 50-day moving average price of $12.17 and a two-hundred day moving average price of $12.40. PennyMac Mortgage Investment Trust has a twelve month low of $11.15 and a twelve month high of $14.87.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $0.15 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%. Equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Thursday, April 9th. PennyMac Mortgage Investment Trust’s payout ratio is presently 163.27%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 36.7% in the first quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 4,335 shares during the period. Jane Street Group LLC bought a new stake in PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $4,166,000. Intech Investment Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 1.3% in the 1st quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust’s stock worth $1,601,000 after purchasing an additional 1,411 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in PennyMac Mortgage Investment Trust by 4.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 441,547 shares of the real estate investment trust’s stock worth $5,678,000 after purchasing an additional 19,389 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in PennyMac Mortgage Investment Trust by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 243,093 shares of the real estate investment trust’s stock valued at $3,126,000 after purchasing an additional 1,443 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.