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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.75.

A number of analysts have recently commented on the company. Citizens Jmp dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a research report on Thursday, December 18th. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday, December 29th.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, CEO David Spector bought 10,000 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the acquisition, the chief executive officer owned 357,794 shares of the company’s stock, valued at $4,436,645.60. The trade was a 2.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont purchased a new stake in shares of PennyMac Mortgage Investment Trust in the second quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $26,000. Allworth Financial LP boosted its holdings in PennyMac Mortgage Investment Trust by 1,741.7% in the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,003 shares during the period. Signaturefd LLC grew its position in PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 870 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in 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 valued at $35,000 after acquiring an additional 1,395 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Price Performance

PMT opened at $13.25 on Friday. The company’s 50 day simple moving average is $12.83 and its 200 day simple moving average is $12.47. 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 1 year low of $11.60 and a 1 year high of $14.93. The stock has a market capitalization of $1.15 billion, a PE ratio of 14.56, a P/E/G ratio of 1.09 and a beta of 1.27.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, topping the consensus estimate of $0.36 by $0.19. The firm had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. As a group, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.60 annualized dividend and a dividend yield of 12.1%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 175.82%.

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.