PennyMac Mortgage Investment Trust (NYSE:PMT) Given Average Recommendation of “Hold” by Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.00.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $14.50 to $13.50 in a report on Friday, July 25th. Wells Fargo & Company lowered their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd.

PennyMac Mortgage Investment Trust Stock Up 4.0%

Shares of PMT stock opened at $12.3650 on Tuesday. PennyMac Mortgage Investment Trust has a 12 month low of $11.70 and a 12 month high of $14.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.82. The firm has a market cap of $1.08 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 3.02 and a beta of 1.22. The stock has a 50 day moving average of $12.47 and a 200-day moving average of $13.08.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.39). The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.9%. PennyMac Mortgage Investment Trust’s payout ratio is currently 222.22%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at $25,000. GAMMA Investing LLC increased its stake in PennyMac Mortgage Investment Trust by 204.0% in the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 1,363 shares during the period. Allworth Financial LP raised its position in PennyMac Mortgage Investment Trust by 1,741.7% in the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,003 shares in the last quarter. Signaturefd LLC raised its position in PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 870 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in PennyMac Mortgage Investment Trust by 196.5% during the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,162 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.