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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.58.

PMT has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price target for the company. Finally, B. Riley boosted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the transaction, the director now directly owns 53,311 shares in the company, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PMT. SG Americas Securities LLC acquired a new position in PennyMac Mortgage Investment Trust in the third quarter valued at $613,000. Oak Thistle LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $125,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 4.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,236 shares of the real estate investment trust’s stock worth $8,013,000 after acquiring an additional 28,370 shares during the period. Inspire Investing LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $306,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,115 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Up 1.8 %

Shares of NYSE PMT opened at $13.91 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average price of $14.06 and a 200 day moving average price of $13.95. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.64 and a beta of 1.48.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.50%. The ex-dividend date of this dividend is Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 99.38%.

PennyMac Mortgage Investment Trust Company Profile

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.