Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.95.

PMT has been the subject of several research reports. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, April 19th. BidaskClub raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group lifted their price target on PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 28th.

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PennyMac Mortgage Investment Trust (PMT) traded up 0.06% during midday trading on Tuesday, hitting $17.73. 351,390 shares of the stock were exchanged. PennyMac Mortgage Investment Trust has a one year low of $14.28 and a one year high of $18.46. The firm has a 50-day moving average price of $17.83 and a 200-day moving average price of $17.29. The stock has a market cap of $1.18 billion, a P/E ratio of 13.85 and a beta of 0.52.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 10.60%. The ex-dividend date is Tuesday, July 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 150.40%.

In other news, CEO David Spector sold 8,235 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, June 5th. The stock was sold at an average price of $17.59, for a total transaction of $144,853.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew S. Chang sold 1,937 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $17.64, for a total value of $34,168.68. The disclosure for this sale can be found here. Insiders have sold a total of 12,626 shares of company stock valued at $222,229 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in PennyMac Mortgage Investment Trust by 2.8% in the fourth quarter. State Street Corp now owns 1,410,380 shares of the real estate investment trust’s stock worth $23,085,000 after buying an additional 38,074 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 1.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,677 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 200 shares in the last quarter. Credit Agricole S A bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $254,000. Guggenheim Capital LLC boosted its stake in PennyMac Mortgage Investment Trust by 3.2% in the fourth quarter. Guggenheim Capital LLC now owns 124,195 shares of the real estate investment trust’s stock worth $2,033,000 after buying an additional 3,858 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 13.0% in the fourth quarter. AQR Capital Management LLC now owns 89,420 shares of the real estate investment trust’s stock worth $1,464,000 after buying an additional 10,319 shares in the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.

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. (its Operating Partnership) and its subsidiaries.

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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