Wedbush Reaffirms Neutral Rating for PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a report released on Monday, Benzinga reports. They currently have a $15.00 price objective on the real estate investment trust’s stock. Wedbush’s price target would indicate a potential upside of 8.26% from the stock’s current price. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s 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.

Several other research firms have also weighed in on PMT. B. Riley boosted their target price 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. 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 objective for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.75.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $13.86 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 9.24 and a beta of 1.48. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The business has a 50 day simple moving average of $14.10 and a 200-day simple moving average of $14.02.

Insiders Place Their Bets

In related news, Director Doug Jones sold 7,810 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors have recently bought and sold shares of the stock. Roble Belko & Company Inc acquired a new position in PennyMac Mortgage Investment Trust during the 1st quarter valued at about $29,000. National Bank of Canada FI boosted its holdings in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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. Oak Thistle LLC bought a new stake in PennyMac Mortgage Investment Trust during the third quarter worth approximately $125,000. Finally, Essex Financial Services Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $150,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.