PennyMac Mortgage Investment Trust (NYSE:PMT) is given an average rating of “Moderate Buy” by brokerages


Shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) have been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.03.

A number of analysts recently commented on PMT shares. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. TheStreet downgraded shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. StockNews.com downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. JMP Securities dropped their price objective on shares of PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, April 26th. Finally, Jonestrading cut their target price on shares of PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a report on Friday, May 6th.

PMT opened at $14.14 on Thursday. The company has a fifty day moving average of $14.90 and a two hundred day moving average of $15.97. PennyMac Mortgage Investment Trust has a 1-year low of $11.64 and a 1-year high of $20.72. The company has a market cap of $1.38 billion, a P/E ratio of -19.37 and a beta of 1.14. The company has a current ratio of 0.52, a quick ratio of 0.52, and a debt-to-equity ratio of 1.38.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 14th will be paid a dividend of $0.47 per share. This represents a $1.88 annual dividend and a yield of 13.30%. The ex-dividend date of this dividend is Wednesday, July 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently -257.53%.

Hedge funds have recently changed their positions in the business. Invesco Ltd. raised its stake in PennyMac Mortgage Investment Trust by 98.7% during the 4th quarter. Invesco Ltd. now owns 2,230,488 shares of the real estate investment trust’s stock valued at $38,654,000 after acquiring an additional 1,107,783 shares during the period. Greenwich Investment Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $9,430,000. Goldman Sachs Group Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 6.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,022,501 shares of the real estate investment trust’s stock valued at $87,040,000 after purchasing an additional 305,375 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PennyMac Mortgage Investment Trust by 866.9% in the 4th quarter. Renaissance Technologies LLC now owns 283,300 shares of the real estate investment trust’s stock valued at $4,910,000 after purchasing an additional 254,000 shares during the period. Finally, Centaurus Financial Inc. raised its stake in PennyMac Mortgage Investment Trust by 291.9% during the first quarter. Centaurus Financial Inc. now owns 194,285 shares of the real estate investment trust’s stock valued at $3,281,000 after purchasing an additional 144,707 shares in the last quarter. 70.77% of the shares are currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Company Profile (Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The Company’s Sensitive Credit Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate and non-agency subordinated bonds.

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



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