PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $13.10 Consensus Target Price from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.10.

Several analysts have issued reports on the company. Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Wells Fargo & Company cut their price target on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Piper Sandler cut their price target on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $10.50 on Thursday. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.39. PennyMac Mortgage Investment Trust has a one year low of $10.23 and a one year high of $13.81. The firm has a market capitalization of $915.16 million, a P/E ratio of 9.13, a PEG ratio of 0.51 and a beta of 1.21. The business has a fifty day moving average of $11.46 and a 200 day moving average of $12.21.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%.The firm had revenue of $82.29 million during the quarter, compared to the consensus estimate of $92.92 million. As a group, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 15.2%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust’s payout ratio is currently 139.13%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $26,000. Bessemer Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 142.1% in the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,285 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $33,000. GAMMA Investing LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 102.8% in the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,815 shares during the period. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.