PennyMac Mortgage Investment Trust (PMT) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Several other equities analysts have also commented on PMT. BidaskClub lowered PennyMac Mortgage Investment Trust from a strong-buy rating to a buy rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a strong sell rating to a hold rating in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an outperform rating to a market perform rating and cut their price target for the company from $19.00 to $18.00 in a research note on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $17.33.

PennyMac Mortgage Investment Trust (PMT) traded down $0.07 during mid-day trading on Monday, reaching $15.19. The company’s stock had a trading volume of 127,243 shares, compared to its average volume of 461,754. The stock has a market capitalization of $1,008.44, a price-to-earnings ratio of 10.83 and a beta of 0.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.77 and a current ratio of 0.77. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.44%. The business’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.64 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 13th were paid a $0.47 dividend. The ex-dividend date was Thursday, October 12th. This represents a $1.88 annualized dividend and a yield of 12.38%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 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 dated Wednesday, October 4th. The stock was sold at an average price of $17.61, for a total value of $330,187.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 75,000 shares of company stock worth $1,299,563 in the last quarter. 1.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. grew its stake in PennyMac Mortgage Investment Trust by 20,756.3% in the third quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 6,642 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in PennyMac Mortgage Investment Trust by 4.4% in the second 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 purchasing an additional 304 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in PennyMac Mortgage Investment Trust in the second quarter valued at about $184,000. Jane Street Group LLC purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $190,000. Finally, M&T Bank Corp grew its stake in PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 63.35% of the company’s stock.

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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