ValuEngine Lowers PennyMac Mortgage Investment Trust (NYSE:PMT) to Hold

ValuEngine cut shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from a buy rating to a hold rating in a report issued on Monday, November 6th.

A number of other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an outperform rating to a market perform rating and reduced their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a sell rating to a hold rating in a research report on Thursday, October 5th. Finally, BidaskClub upgraded shares of PennyMac Mortgage Investment Trust from a hold rating to a buy rating in a research report on Saturday, August 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.50.

Shares of PennyMac Mortgage Investment Trust (NYSE PMT) traded down $0.02 during mid-day trading on Monday, hitting $15.90. The company’s stock had a trading volume of 333,847 shares, compared to its average volume of 627,317. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78. PennyMac Mortgage Investment Trust has a 12 month low of $14.87 and a 12 month high of $18.46. The stock has a market capitalization of $1,043.84, a price-to-earnings ratio of 11.21 and a beta of 0.54.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). The company had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. research analysts forecast that PennyMac Mortgage Investment Trust will post 1.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 13th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.88 annualized dividend and a dividend yield of 11.82%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 132.39%.

In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total value of $330,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 75,000 shares of company stock valued at $1,299,563 over the last 90 days. Insiders own 2.08% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in PennyMac Mortgage Investment Trust by 20,756.3% in the 3rd quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 6,642 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of PennyMac Mortgage Investment Trust by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $184,000. Jane Street Group LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $190,000. Finally, M&T Bank Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 4.8% during the 2nd quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares during the period. 62.80% of the stock is owned by hedge funds and other institutional investors.

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About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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