PennyMac Mortgage Investment Trust’s (PMT) “Neutral” Rating Reiterated at Wedbush

Wedbush reiterated their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q2 2024 earnings at $0.34 EPS, Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.40 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.

Other equities analysts have also recently issued reports about the company. JMP Securities reissued a market outperform rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. B. Riley raised their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a hold rating and a $15.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $14.75.

PennyMac Mortgage Investment Trust Stock Up 3.5 %

Shares of NYSE:PMT opened at $14.34 on Monday. The stock’s 50-day moving average is $14.11 and its 200 day moving average is $14.03. The company has a market cap of $1.24 billion, a PE ratio of 9.56 and a beta of 1.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.28. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

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

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the transaction, the director now owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $9,781,000. International Assets Investment Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 1,307.8% in the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock worth $4,872,000 after buying an additional 302,760 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of PennyMac Mortgage Investment Trust by 23.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,507,911 shares of the real estate investment trust’s stock valued at $18,698,000 after buying an additional 284,200 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $2,105,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PennyMac Mortgage Investment Trust by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock worth $16,115,000 after acquiring an additional 78,311 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

About PennyMac Mortgage Investment Trust

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.