PennyMac Mortgage Investment Trust (NYSE:PMT) Given Average Rating of “Moderate Buy” by Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $14.83.

A number of equities research analysts have recently commented on the stock. UBS Group dropped their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JMP Securities restated a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd.

PennyMac Mortgage Investment Trust Stock Up 2.3 %

NYSE:PMT opened at $12.99 on Wednesday. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.76 and a beta of 1.17. The company’s fifty day moving average price is $14.01 and its 200-day moving average price is $13.53.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.32%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company’s stock, valued at $929,189. This represents a 18.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 added to or reduced their stakes in the business. QRG Capital Management Inc. raised its position in PennyMac Mortgage Investment Trust by 8.3% in the first quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 1,974 shares during the period. GraniteShares Advisors LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 6.4% during the 1st quarter. GraniteShares Advisors LLC now owns 208,116 shares of the real estate investment trust’s stock worth $3,049,000 after acquiring an additional 12,610 shares in the last quarter. GAMMA Investing LLC raised its holdings in PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,363 shares in the last quarter. AlphaCore Capital LLC lifted its position in PennyMac Mortgage Investment Trust by 54.4% in the fourth quarter. AlphaCore Capital LLC now owns 36,865 shares of the real estate investment trust’s stock valued at $479,000 after acquiring an additional 12,995 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 196.9% in the 4th quarter. Mackenzie Financial Corp now owns 40,267 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 26,703 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.