Analysts Set PennyMac Mortgage Investment Trust (NYSE:PMT) Target Price at $14.58

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $14.58.

PMT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Finally, B. Riley upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of the stock in a transaction 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 transaction, the director now directly owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PMT. Roble Belko & Company Inc acquired a new position in PennyMac Mortgage Investment Trust during the first quarter worth $29,000. National Bank of Canada FI raised its holdings in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,603 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in PennyMac Mortgage Investment Trust by 16.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 1,115 shares during the last quarter. Oak Thistle LLC acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth $125,000. Finally, Essex Financial Services Inc. acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $150,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.3 %

PMT opened at $14.10 on Wednesday. The company’s 50 day moving average price is $14.09 and its two-hundred day moving average price is $13.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.40 and a beta of 1.48.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.35%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio 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.