Piper Sandler Lowers PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target to $13.00

PennyMac Mortgage Investment Trust (NYSE:PMT) had its price objective dropped by investment analysts at Piper Sandler from $13.50 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target would indicate a potential upside of 8.65% from the stock’s current price.

PMT has been the topic of a number of other reports. Citizens Jmp dropped their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. 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 report on Thursday, December 18th. Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.60.

PennyMac Mortgage Investment Trust Trading Up 0.0%

Shares of PMT stock opened at $11.97 on Thursday. PennyMac Mortgage Investment Trust has a 1 year low of $11.15 and a 1 year high of $14.61. The firm has a market capitalization of $1.04 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The stock has a fifty day moving average of $12.09 and a two-hundred day moving average of $12.39. The company has a debt-to-equity ratio of 6.55, a quick ratio of 1.12 and a current ratio of 1.12.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $96.96 million. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. As a group, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake in PennyMac Mortgage Investment Trust by 102.8% in 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 during the period. Clearstead Advisors LLC grew its position in PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,815 shares in the last quarter. Finally, CWM LLC grew its position in PennyMac Mortgage Investment Trust by 57.7% during the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.