PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $13.88 Consensus Price Target from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.8750.

A number of equities analysts have recently commented on PMT shares. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a report on Thursday, December 18th. UBS Group boosted their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT opened at $13.04 on Monday. The company has a market capitalization of $1.13 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. PennyMac Mortgage Investment Trust has a 52-week low of $11.60 and a 52-week high of $14.93. The company has a 50-day simple moving average of $12.51 and a 200 day simple moving average of $12.44.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. The business had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.91 million. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%. On average, research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, December 26th will be given a $0.40 dividend. The ex-dividend date is Friday, December 26th. This represents a $1.60 annualized dividend and a yield of 12.3%. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

Insider Activity

In other news, CEO David Spector bought 10,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was acquired at an average price of $12.40 per share, with a total value of $124,000.00. Following the completion of the purchase, the chief executive officer directly owned 357,794 shares in the company, valued at $4,436,645.60. This represents a 2.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PennyMac Mortgage Investment Trust by 71.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust’s stock valued at $19,559,000 after purchasing an additional 557,389 shares during the last quarter. Ieq Capital LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $7,644,000. Barclays PLC boosted its position in shares of PennyMac Mortgage Investment Trust by 93.2% during the third quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock valued at $12,169,000 after buying an additional 478,947 shares during the last quarter. Millennium Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 41.8% in the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock worth $16,418,000 after buying an additional 394,497 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth about $4,166,000. Institutional investors own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.