PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Consensus Rating of “Hold” from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.10.

A number of equities analysts have commented on the stock. Piper Sandler reduced their price objective on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Zacks Research downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Wells Fargo & Company reduced their target price on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in PMT. Flagship Harbor Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at $26,000. Bessemer Group Inc. increased its position in PennyMac Mortgage Investment Trust by 142.1% during the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,285 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $33,000. Clearstead Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,815 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 200.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 2,000 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

PMT opened at $9.62 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.46 and a debt-to-equity ratio of 9.18. PennyMac Mortgage Investment Trust has a 12-month low of $9.05 and a 12-month high of $13.81. The business has a 50 day moving average of $10.11 and a 200-day moving average of $11.24. The stock has a market cap of $839.23 million, a price-to-earnings ratio of 6.78, a PEG ratio of 0.64 and a beta of 1.14.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The business had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. On average, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.12 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Thursday, July 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 16.6%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 112.68%.

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.