PennyMac Mortgage Investment Trust (NYSE:PMT) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $18.50.

Several research firms have recently commented on PMT. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. ValuEngine cut PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Keefe, Bruyette & Woods cut PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Tuesday, October 10th.

In related news, insider David Spector sold 18,750 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $17.61, for a total transaction of $330,187.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 56,250 shares of company stock worth $973,313 over the last ninety days. 2.08% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in shares of PennyMac Mortgage Investment Trust by 20,756.3% in the 3rd quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 6,642 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in PennyMac Mortgage Investment Trust by 4.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares during the last quarter. M&T Bank Corp grew its holdings in PennyMac Mortgage Investment Trust by 4.8% in the 2nd quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $201,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in PennyMac Mortgage Investment Trust by 45.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,621 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 4,575 shares during the last quarter. Institutional investors and hedge funds own 62.95% of the company’s stock.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded down $0.19 on Tuesday, reaching $16.07. 443,000 shares of the company were exchanged, compared to its average volume of 492,159. The firm has a market cap of $1,053.68, a P/E ratio of 11.32 and a beta of 0.52. PennyMac Mortgage Investment Trust has a 12-month low of $14.87 and a 12-month high of $18.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). The company had revenue of $75.80 million during the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The firm’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. analysts expect that PennyMac Mortgage Investment Trust will post 1.32 EPS for the current year.

PennyMac Mortgage Investment Trust announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 20th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.70%. The ex-dividend date of this dividend is Thursday, December 28th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 132.39%.

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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.

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