FY2024 EPS Estimates for PennyMac Mortgage Investment Trust Lifted by Analyst (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Analysts at Wedbush boosted their FY2024 EPS estimates for shares of PennyMac Mortgage Investment Trust in a research report issued to clients and investors on Monday, April 29th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $1.40 per share for the year, up from their previous forecast of $1.35. Wedbush currently has a “Neutral” rating and a $15.00 price target on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.35 per share. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.32 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.

A number of other research firms have also recently weighed in on PMT. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft began 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 target price for the company. Finally, B. Riley raised their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.75.

PennyMac Mortgage Investment Trust Trading Down 1.1 %

Shares of PennyMac Mortgage Investment Trust stock opened at $13.86 on Tuesday. The business has a 50 day moving average price of $14.10 and a 200 day moving average price of $14.02. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.24 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.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

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

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the stock in a transaction dated 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 in the company, valued at approximately $764,479.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is owned by company insiders.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.55%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

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.