Wedbush Reiterates Neutral Rating for PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a research report issued on Monday, Benzinga reports. They currently have a $15.00 target price on the real estate investment trust’s stock. Wedbush’s target price indicates a potential upside of 8.26% from the company’s previous close. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.40 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.37 EPS.

PMT has been the subject of several other reports. B. Riley lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.75.

PennyMac Mortgage Investment Trust Stock Down 1.1 %

PMT stock opened at $13.86 on Monday. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The firm has a market cap of $1.20 billion, a PE ratio of 9.24 and a beta of 1.48. The business has a 50 day moving average of $14.10 and a 200 day moving average of $14.02. 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 at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of 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 purchasing an additional 1,115 shares during the last quarter. National Bank of Canada FI raised its position in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,603 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. Victory Capital Management Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 16.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 2,439 shares during the period. Finally, Van ECK Associates Corp boosted its position in PennyMac Mortgage Investment Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock worth $6,797,000 after purchasing an additional 3,192 shares in the last quarter. 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.