PennyMac Mortgage Investment Trust’s (PMT) Neutral Rating Reiterated at Piper Sandler

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reiterated by equities research analysts at Piper Sandler in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 price target on the real estate investment trust’s stock, up from their prior price target of $14.50. Piper Sandler’s price objective suggests a potential upside of 2.70% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. B. Riley lifted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $14.92.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $14.61 on Thursday. The firm has a market capitalization of $1.27 billion, a PE ratio of 9.74 and a beta of 1.47. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50-day moving average of $14.19 and a two-hundred day moving average of $14.14.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the sale, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock worth $16,115,000 after purchasing an additional 78,311 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 2.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock valued at $2,237,000 after acquiring an additional 4,041 shares during the period. Mackenzie Financial Corp bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $214,000. International Assets Investment Management LLC boosted its position in PennyMac Mortgage Investment Trust by 1,307.8% during the 4th quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock valued at $4,872,000 after purchasing an additional 302,760 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 23.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,507,911 shares of the real estate investment trust’s stock valued at $18,698,000 after acquiring an additional 284,200 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.