PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $13.75 Consensus PT from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.75.

Several equities analysts recently issued reports on the company. UBS Group raised their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Citizens Jmp dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday, December 18th.

PennyMac Mortgage Investment Trust Stock Up 1.3%

NYSE:PMT opened at $12.66 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 0.64. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. PennyMac Mortgage Investment Trust has a one year low of $11.60 and a one year high of $14.93. The stock has a 50-day simple moving average of $12.82 and a 200 day simple moving average of $12.47.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $33.20 million for the quarter, compared to the consensus estimate of $96.96 million. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%. Sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date was Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 163.27%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in PMT. Flagship Harbor Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $26,000. Allworth Financial LP boosted its stake in PennyMac Mortgage Investment Trust by 1,741.7% during the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,003 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $33,000. GAMMA Investing LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 102.8% in the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,815 shares during 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 (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.