Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $12.10

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.10.

PMT has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Wall Street Zen cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Piper Sandler cut their price target on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Zacks Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings cut PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st.

PennyMac Mortgage Investment Trust Trading Down 1.1%

NYSE:PMT opened at $9.35 on Tuesday. PennyMac Mortgage Investment Trust has a one year low of $9.05 and a one year high of $13.81. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.39 and a current ratio of 1.46. The firm has a market cap of $814.88 million, a P/E ratio of 6.58, a P/E/G ratio of 0.63 and a beta of 1.14. The firm has a 50-day simple moving average of $10.12 and a 200-day simple moving average of $11.25.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The business had revenue of ($46.00) million during the quarter, compared to analysts’ expectations of $93.93 million. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.12 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 17.1%. The ex-dividend date was Thursday, July 9th. PennyMac Mortgage Investment Trust’s payout ratio is 112.68%.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at about $6,137,000. GSA Capital Partners LLP purchased a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter worth approximately $635,000. Maridea Wealth Management LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 2nd quarter worth approximately $537,000. GAMMA Investing LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 68.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,969 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 2,822 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at approximately $239,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.