Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.00.
Several research firms have recently weighed in on PMT. BidaskClub raised PennyMac Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th.
In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $17.61, for a total value of $330,187.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 56,250 shares of company stock worth $982,500 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Cipher Capital LP grew its position in PennyMac Mortgage Investment Trust by 25.8% in the 2nd quarter. Cipher Capital LP now owns 233,707 shares of the real estate investment trust’s stock valued at $4,274,000 after acquiring an additional 47,900 shares during the last quarter. Martingale Asset Management L P grew its position in PennyMac Mortgage Investment Trust by 30.1% in the 2nd quarter. Martingale Asset Management L P now owns 246,523 shares of the real estate investment trust’s stock valued at $4,509,000 after acquiring an additional 57,101 shares during the last quarter. Ramsey Quantitative Systems bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $315,000. IndexIQ Advisors LLC grew its position in PennyMac Mortgage Investment Trust by 11.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 77,310 shares of the real estate investment trust’s stock valued at $1,414,000 after acquiring an additional 8,155 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $1,141,000. 62.48% of the stock is currently owned by institutional investors.
Shares of PennyMac Mortgage Investment Trust (PMT) remained flat at $16.93 on Thursday. The company had a trading volume of 345,488 shares. PennyMac Mortgage Investment Trust has a 12 month low of $14.71 and a 12 month high of $18.46. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.12 and a beta of 0.49. The stock has a 50-day moving average of $17.14 and a 200 day moving average of $17.58.
PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). The company had revenue of $83.96 million for the quarter, compared to the consensus estimate of $80.12 million. PennyMac Mortgage Investment Trust had a net margin of 37.97% and a return on equity of 8.67%. The business’s revenue for the quarter was up 76.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. Equities research analysts forecast that PennyMac Mortgage Investment Trust will post $1.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, October 13th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.10%. The ex-dividend date of this dividend is Thursday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 109.94%.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.
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