PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Reaffirmed by JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the real estate investment trust’s stock. JMP Securities’ price target points to a potential upside of 12.53% from the company’s previous close.

A number of other research firms have also weighed in on PMT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price objective on the stock. B. Riley raised 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and an average target price of $14.58.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT traded up $0.10 during midday trading on Thursday, reaching $13.33. The company’s stock had a trading volume of 309,072 shares, compared to its average volume of 615,622. The firm has a market capitalization of $1.16 billion, a PE ratio of 8.27 and a beta of 1.48. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The stock has a fifty day moving average of $14.06 and a 200 day moving average of $13.89. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.37.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its position in PennyMac Mortgage Investment Trust by 7.3% in the 4th quarter. Squarepoint Ops LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 815 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in PennyMac Mortgage Investment Trust by 16.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,115 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 3.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 1,137 shares during the period. Blair William & Co. IL grew its stake in shares of PennyMac Mortgage Investment Trust by 9.9% during the 1st quarter. Blair William & Co. IL now owns 12,741 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 1,150 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 2.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 42,460 shares of the real estate investment trust’s stock worth $523,000 after purchasing an additional 1,201 shares during the period. Hedge funds and other institutional investors 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.