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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $13.8750.

Several equities analysts recently issued reports on PMT shares. UBS Group upped their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday. Wells Fargo & Company began coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 target price for the company. Finally, Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, CEO David Spector acquired 10,000 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the purchase, the chief executive officer owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This represents a 2.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Catherine A. Lynch acquired 2,823 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $12.02 per share, with a total value of $33,932.46. Following the acquisition, the director owned 54,711 shares in the company, valued at approximately $657,626.22. This trade represents a 5.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 14,293 shares of company stock valued at $176,557. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank boosted its position in PennyMac Mortgage Investment Trust by 3.3% in the 3rd quarter. Amalgamated Bank now owns 25,689 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 831 shares in the last quarter. Signaturefd LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 53.8% in the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 870 shares during the period. CWM LLC boosted its holdings in PennyMac Mortgage Investment Trust by 57.7% during the third quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 1,077 shares in the last quarter. Maridea Wealth Management LLC grew its position in PennyMac Mortgage Investment Trust by 2.7% during the second quarter. Maridea Wealth Management LLC now owns 41,578 shares of the real estate investment trust’s stock valued at $535,000 after buying an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in PennyMac Mortgage Investment Trust by 12.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,625 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 1,188 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $12.90 on Thursday. The company has a 50 day moving average price of $12.35 and a 200 day moving average price of $12.39. The firm has a market capitalization of $1.12 billion, a P/E ratio of 14.17, a PEG ratio of 2.59 and a beta of 1.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.72. PennyMac Mortgage Investment Trust has a 52 week low of $11.60 and a 52 week high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. 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 was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend was Friday, October 10th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 175.82%.

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.