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

JMP Securities reissued their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a report published on Thursday,Benzinga reports. The firm currently has a $15.50 target price on the real estate investment trust’s stock.

Separately, Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $12.56 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.23 and a beta of 1.50. The business has a 50-day moving average of $13.02 and a 200-day moving average of $13.59.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The firm had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same period last year, the business earned $0.51 EPS. On average, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.26 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.60 annualized dividend and a yield of 12.74%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its stake in PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 822 shares in the last quarter. Simplify Asset Management Inc. bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $143,000. Aigen Investment Management LP bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $152,000. Finally, Caprock Group LLC grew its position in shares of PennyMac Mortgage Investment Trust by 9.3% in the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 1,156 shares in the last quarter. 67.38% of the stock is 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.