Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

A number of analysts recently issued reports on the company. JMP Securities restated a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research report on Saturday, June 4th. Keefe, Bruyette & Woods lowered their price target on PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 18th. Barclays PLC set a $15.00 price target on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research report on Monday, July 25th. Finally, Bank of America Corp. lowered PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 12th.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 15.09 on Wednesday. The stock’s 50 day moving average is $15.42 and its 200-day moving average is $14.83. The company has a market cap of $1.02 billion, a PE ratio of 17.49 and a beta of 0.67. PennyMac Mortgage Investment Trust has a one year low of $10.91 and a one year high of $16.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.30. The company earned $47.60 million during the quarter, compared to the consensus estimate of $67.85 million. PennyMac Mortgage Investment Trust had a return on equity of 4.41% and a net margin of 26.07%. The firm’s quarterly revenue was down 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities research analysts expect that PennyMac Mortgage Investment Trust will post $2.52 earnings per share for the current year.

In other news, insider Jeffrey Grogin sold 12,694 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $16.23, for a total transaction of $206,023.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in shares of PennyMac Mortgage Investment Trust by 10.4% in the second quarter. Public Employees Retirement System of Ohio now owns 6,707 shares of the company’s stock valued at $109,000 after buying an additional 633 shares in the last quarter. Royal Bank of Canada raised its position in shares of PennyMac Mortgage Investment Trust by 12.5% in the second quarter. Royal Bank of Canada now owns 6,977 shares of the company’s stock valued at $113,000 after buying an additional 774 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of PennyMac Mortgage Investment Trust by 6.2% in the second quarter. Teacher Retirement System of Texas now owns 9,640 shares of the company’s stock valued at $156,000 after buying an additional 565 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of PennyMac Mortgage Investment Trust by 0.8% in the first quarter. Squarepoint Ops LLC now owns 12,000 shares of the company’s stock valued at $164,000 after buying an additional 100 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 7.1% in the second quarter. Suntrust Banks Inc. now owns 12,167 shares of the company’s stock valued at $197,000 after buying an additional 805 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

5 Day Chart for NYSE:PMT

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