PennyMac Mortgage Investment Trust (NYSE:PMT) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research report report published on Thursday, Benzinga reports. JMP Securities currently has a $15.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They set a hold rating and a $15.00 price target on the stock. B. Riley increased their target price on 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $14.58.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.56 on Thursday. The company’s 50 day simple moving average is $14.05 and its 200-day simple moving average is $13.91. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.28. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.42 and a beta of 1.48.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.80%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 99.38%.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently modified their holdings of PMT. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $10,708,000. First Trust Advisors LP boosted its position in shares of PennyMac Mortgage Investment Trust by 546.1% during the 4th quarter. First Trust Advisors LP now owns 615,614 shares of the real estate investment trust’s stock worth $9,203,000 after acquiring an additional 520,338 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PennyMac Mortgage Investment Trust by 11.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock valued at $63,746,000 after acquiring an additional 460,177 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PennyMac Mortgage Investment Trust by 55.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,103,922 shares of the real estate investment trust’s stock worth $13,611,000 after acquiring an additional 395,970 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.