Wedbush Research Analysts Boost Earnings Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Wedbush raised their FY2024 EPS estimates for PennyMac Mortgage Investment Trust in a report released on Monday, April 29th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $1.40 per share for the year, up from their previous forecast of $1.35. Wedbush currently has a “Neutral” rating and a $15.00 target price on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.36 per share. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.32 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.37 EPS.

A number of other research firms have also weighed in on PMT. JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.75.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $14.34 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.34. The business has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $14.03. The company has a market capitalization of $1.24 billion, a P/E ratio of 9.56 and a beta of 1.48. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds have recently made changes to their positions in PMT. Roble Belko & Company Inc purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $29,000. National Bank of Canada FI lifted its holdings in PennyMac Mortgage Investment Trust by 94.9% during the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,603 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in PennyMac Mortgage Investment Trust by 16.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 1,115 shares during the period. Oak Thistle LLC purchased a new position in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $125,000. Finally, Essex Financial Services Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at about $150,000. 67.38% of the stock is currently owned by institutional investors.

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the business’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 $764,479.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.16%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

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.