Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.96.

A number of brokerages have recently commented on PMT. Barclays PLC set a $15.00 target price on shares of PennyMac Mortgage Investment Trust and gave the company a “hold” rating in a research report on Monday, July 25th. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, August 18th. Bank of America Corp. lowered shares of PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 12th. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 8th. Finally, Wedbush initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, October 5th. They issued a “neutral” rating and a $16.75 price objective for the company.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded up 0.47% during midday trading on Wednesday, hitting $14.94. 174,427 shares of the stock traded hands. PennyMac Mortgage Investment Trust has a 12-month low of $10.91 and a 12-month high of $16.93. The firm has a market cap of $1.01 billion, a P/E ratio of 17.31 and a beta of 0.64. The company’s 50-day moving average is $15.11 and its 200 day moving average is $15.11.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.30. The business earned $47.60 million during the quarter, compared to analyst estimates of $67.85 million. PennyMac Mortgage Investment Trust had a net margin of 26.07% and a return on equity of 4.41%. PennyMac Mortgage Investment Trust’s quarterly revenue was down 31.8% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post $2.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 12.64%. The ex-dividend date of this dividend is Wednesday, October 5th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 229.27%.

In other PennyMac Mortgage Investment Trust news, insider Jeffrey Grogin sold 12,694 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $16.23, for a total transaction of $206,023.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott W. Carnahan bought 3,341 shares of the stock in a transaction on Wednesday, September 21st. The shares were bought at an average cost of $15.22 per share, with a total value of $50,850.02. Following the purchase, the director now owns 49,203 shares of the company’s stock, valued at $748,869.66. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PMT. Emerald Acquisition Ltd. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $3,948,000. Suntrust Banks Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 7.1% in the second quarter. Suntrust Banks Inc. now owns 12,167 shares of the company’s stock valued at $197,000 after buying an additional 805 shares in the last quarter. Societe Generale acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $660,000. Wedbush Securities Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 0.7% in the second quarter. Wedbush Securities Inc. now owns 39,240 shares of the company’s stock valued at $637,000 after buying an additional 273 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 10.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 60,558 shares of the company’s stock valued at $973,000 after buying an additional 5,825 shares in the last quarter. 61.29% of the stock is owned by institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

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