PennyMac Mortgage Investment Trust (PMT) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

PennyMac Mortgage Investment Trust (NYSE:PMT) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday. They currently have a $18.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $19.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.63% from the stock’s current price.

A number of other analysts also recently issued reports on PMT. BidaskClub raised shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus price target of $17.00.

PennyMac Mortgage Investment Trust (NYSE PMT) opened at 17.37 on Tuesday. The stock has a market cap of $1.16 billion, a PE ratio of 10.38 and a beta of 0.49. The stock’s 50 day moving average is $17.20 and its 200 day moving average is $17.60. PennyMac Mortgage Investment Trust has a 52 week low of $14.70 and a 52 week high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.05). The business had revenue of $83.96 million during the quarter, compared to analysts’ expectations of $80.12 million. PennyMac Mortgage Investment Trust had a net margin of 37.97% and a return on equity of 8.67%. The firm’s revenue was up 76.4% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Analysts predict that PennyMac Mortgage Investment Trust will post $1.60 EPS for the current year.

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In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total transaction of $330,187.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at about $104,000. Public Employees Retirement System of Ohio raised its position in shares of PennyMac Mortgage Investment Trust by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the second quarter valued at about $184,000. Jane Street Group LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at about $190,000. Finally, M&T Bank Corp raised its position in shares of PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 62.48% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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