Citizens Jmp Issues Pessimistic Forecast for PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Price

PennyMac Mortgage Investment Trust (NYSE:PMT) had its price objective lowered by equities researchers at Citizens Jmp from $15.50 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price target would suggest a potential upside of 11.90% from the company’s current price.

PMT has been the subject of a number of other reports. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a research note on Thursday, December 18th. Citigroup reissued an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Finally, UBS Group lifted their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.10.

PennyMac Mortgage Investment Trust Trading Up 0.8%

Shares of NYSE PMT traded up $0.11 during trading hours on Thursday, hitting $13.41. The company’s stock had a trading volume of 229,153 shares, compared to its average volume of 1,159,431. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. PennyMac Mortgage Investment Trust has a 12 month low of $11.60 and a 12 month high of $14.93. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.09 and a beta of 1.27. The business has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $12.47.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. The company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.91 million. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, CEO David Spector purchased 10,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the completion of the transaction, the chief executive officer owned 357,794 shares of the company’s stock, valued at $4,436,645.60. This represents a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth $26,000. Allworth Financial LP grew its stake in shares of 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 valued at $27,000 after buying an additional 2,003 shares in the last quarter. Signaturefd LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 53.8% during the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 870 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in PennyMac Mortgage Investment Trust by 102.8% in the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,395 shares during the period. 67.38% of the stock is owned by institutional investors.

About PennyMac Mortgage Investment Trust

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.