PennyMac Mortgage Investment Trust’s (PMT) “Neutral” Rating Reaffirmed at Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price target on the real estate investment trust’s stock. Wedbush’s price target points to a potential upside of 12.61% from the stock’s current price.

Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $15.00 to $15.50 in a research report on Wednesday, July 10th. B. Riley reiterated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday. JMP Securities increased their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.00.

PennyMac Mortgage Investment Trust Stock Down 7.9 %

Shares of NYSE:PMT opened at $13.32 on Thursday. The firm has a market cap of $1.16 billion, a P/E ratio of 8.88 and a beta of 1.51. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The business has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $14.13.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million for the quarter, compared to the consensus estimate of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.26% and a net margin of 47.60%. During the same period in the prior year, the business earned $0.16 earnings per share. Analysts predict that PennyMac Mortgage Investment Trust will post 1.43 earnings per share for the current year.

Institutional Trading of PennyMac Mortgage Investment Trust

Several large investors have recently made changes to their positions in PMT. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $29,000. National Bank of Canada FI grew its stake 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 valued at $49,000 after buying an additional 1,603 shares during the period. EntryPoint Capital LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 251.8% in the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,015 shares during the period. Entropy Technologies LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $149,000. Finally, Essex Financial Services Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at about $150,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.