PennyMac Mortgage Investment Trust (NYSE:PMT) Rating Reiterated by Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reiterated by Wedbush in a report issued on Monday, Benzinga reports. They presently have a $15.00 target price on the real estate investment trust’s stock. Wedbush’s price objective indicates a potential upside of 6.38% from the stock’s previous close.

A number of other equities research analysts have also weighed in on PMT. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price on the stock. Finally, B. Riley boosted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average target price of $14.75.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $14.10 on Monday. The firm has a market capitalization of $1.22 billion, a PE ratio of 9.40 and a beta of 1.48. The company has a 50 day moving average price of $14.09 and a 200-day moving average price of $13.99. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.37.

Insider Activity

In related news, Director Doug Jones sold 7,810 shares of the 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 sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System boosted its stake in shares of PennyMac Mortgage Investment Trust by 12.4% in the first quarter. New York State Teachers Retirement System now owns 142,899 shares of the real estate investment trust’s stock worth $2,098,000 after acquiring an additional 15,753 shares during the period. Roble Belko & Company Inc purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $29,000. Quadrature Capital Ltd bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $234,000. B. Riley Wealth Advisors Inc. grew its holdings in PennyMac Mortgage Investment Trust by 10.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 199,073 shares of the real estate investment trust’s stock valued at $3,056,000 after buying an additional 18,695 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $916,000. 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.