PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $13.88 Consensus Price Target from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT) has earned an average rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.8750.

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. UBS Group lifted their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $13.81 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $11.60 and a twelve month high of $14.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72. The stock has a fifty day simple moving average of $12.75 and a two-hundred day simple moving average of $12.46. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.13 and a beta of 1.27.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. The business had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. On average, analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.6%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 175.82%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, CEO David Spector acquired 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chief executive officer directly owned 357,794 shares of the company’s stock, valued at $4,436,645.60. The trade was a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors have recently made changes to their positions in PMT. Allspring Global Investments Holdings LLC acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $144,000. TrueMark Investments LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $151,000. Spinnaker Investment Group LLC grew its stake in PennyMac Mortgage Investment Trust by 25.1% in the 4th quarter. Spinnaker Investment Group LLC now owns 51,581 shares of the real estate investment trust’s stock valued at $647,000 after acquiring an additional 10,336 shares during the period. SG Americas Securities LLC increased its holdings in PennyMac Mortgage Investment Trust by 1,586.5% in the 4th quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock worth $6,613,000 after acquiring an additional 495,704 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in PennyMac Mortgage Investment Trust by 102.8% during the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,395 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

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.