PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Recommendation of “Hold” from Analysts

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus rating of “Hold” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.50.

A number of equities research analysts recently commented on PMT shares. Zacks Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, August 18th. Finally, Wall Street Zen lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 142.1% in the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,285 shares during the last quarter. Allworth Financial LP purchased a new position in PennyMac Mortgage Investment Trust during the second quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $33,000. Clearstead Advisors LLC raised its position in PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,815 shares in the last quarter. Finally, Nykredit A S acquired a new position in PennyMac Mortgage Investment Trust in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $9.66 on Friday. The firm has a market capitalization of $842.37 million, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. The company has a debt-to-equity ratio of 9.18, a current ratio of 1.46 and a quick ratio of 1.46. The business has a fifty day moving average of $9.81 and a 200 day moving average of $10.77. PennyMac Mortgage Investment Trust has a 1 year low of $9.05 and a 1 year high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.07). The firm had revenue of ($46.00) million for the quarter, compared to analysts’ expectations of $93.93 million. PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. As a group, research analysts expect that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 16.6%. The ex-dividend date of this dividend is Thursday, October 8th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 112.68%.

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.