Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $14.58

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.58.

PMT has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective for the company. Finally, B. Riley upped their target price on 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 Activity

In other news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently added to or reduced their stakes in the company. Roble Belko & Company Inc acquired a new stake in PennyMac Mortgage Investment Trust during the 1st quarter valued at $29,000. National Bank of Canada FI raised its stake 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 valued at $49,000 after purchasing an additional 1,603 shares during the period. Allspring Global Investments Holdings LLC raised its stake in PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,115 shares during the period. Oak Thistle LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter valued at $125,000. Finally, Essex Financial Services Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at $150,000. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT opened at $14.10 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The stock has a 50 day simple moving average of $14.09 and a 200-day simple moving average of $13.99. The company has a market cap of $1.22 billion, a PE ratio of 9.40 and a beta of 1.48. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.35%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) 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.