PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Rating of “Hold” by Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Free Report) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.92.

A number of brokerages have weighed in on PMT. Piper Sandler reissued a “neutral” rating and set a $15.00 target price (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. B. Riley upped their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th.

View Our Latest Research Report on PMT

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction 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 SEC, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Mortgage Investment Trust by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock valued at $16,115,000 after purchasing an additional 78,311 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 2.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock worth $2,237,000 after acquiring an additional 4,041 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of PennyMac Mortgage Investment Trust by 4.9% during the 4th quarter. Natixis Advisors L.P. now owns 279,039 shares of the real estate investment trust’s stock worth $4,171,000 after acquiring an additional 12,934 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of PennyMac Mortgage Investment Trust by 1,307.8% during the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock worth $4,872,000 after purchasing an additional 302,760 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $13.41 on Friday. The stock’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $14.32. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The firm has a market cap of $1.16 billion, a P/E ratio of 8.94 and a beta of 1.47. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37.

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 given a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 11.94%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

PennyMac Mortgage Investment Trust Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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