PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $16.95.

PMT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, May 26th. BidaskClub downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) traded up 0.46% on Wednesday, hitting $17.37. 303,187 shares of the stock were exchanged. The company has a market cap of $1.16 billion, a P/E ratio of 10.38 and a beta of 0.51. PennyMac Mortgage Investment Trust has a one year low of $14.28 and a one year high of $18.46. The firm’s 50-day moving average is $17.47 and its 200-day moving average is $17.54.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.05. PennyMac Mortgage Investment Trust had a return on equity of 8.67% and a net margin of 37.97%. The business had revenue of $83.96 million during the quarter, compared to the consensus estimate of $80.12 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 76.4% compared to the same quarter last year. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post $1.68 EPS for the current fiscal year.

In other news, CFO Andrew S. Chang sold 1,937 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $17.64, for a total transaction of $34,168.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Spector sold 8,235 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $17.59, for a total transaction of $144,853.65. The disclosure for this sale can be found here. Insiders have sold 12,626 shares of company stock worth $222,229 in the last 90 days. 1.80% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter worth about $104,000. Public Employees Retirement System of Ohio raised its stake in PennyMac Mortgage Investment Trust by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 304 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter worth about $184,000. Jane Street Group LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter worth about $190,000. Finally, M&T Bank Corp raised its stake in PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 62.47% of the company’s stock.

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PennyMac Mortgage Investment Trust Company Profile

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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