PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Reaffirmed by JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 price objective on the real estate investment trust’s stock. JMP Securities’ price objective points to a potential upside of 10.58% from the stock’s previous close.

A number of other equities analysts have also weighed in on PMT. 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 report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus price target of $14.58.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $13.57 on Thursday. The firm has a 50 day moving average price of $14.05 and a 200-day moving average price of $13.90. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.43 and a beta of 1.48. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.28.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the sale, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,801,513 shares of the real estate investment trust’s stock valued at $182,438,000 after buying an additional 85,349 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 5.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,688,236 shares of the real estate investment trust’s stock valued at $58,088,000 after buying an additional 227,513 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of PennyMac Mortgage Investment Trust by 11.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock valued at $63,746,000 after buying an additional 460,177 shares in the last quarter. State Street Corp raised its position in shares of PennyMac Mortgage Investment Trust by 3.5% during the 1st quarter. State Street Corp now owns 3,544,419 shares of the real estate investment trust’s stock valued at $59,865,000 after buying an additional 121,072 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of PennyMac Mortgage Investment Trust by 8.0% during the 1st quarter. Invesco Ltd. now owns 2,409,271 shares of the real estate investment trust’s stock valued at $40,693,000 after buying an additional 178,783 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.