Citizens Jmp Cuts PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target to $15.00

PennyMac Mortgage Investment Trust (NYSE:PMT) had its target price lowered by analysts at Citizens Jmp from $15.50 to $15.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective points to a potential upside of 11.90% from the stock’s current price.

Several other analysts have also recently issued reports on PMT. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. 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 for the company in a report on Thursday, December 18th. Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. UBS Group raised their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Citigroup restated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.10.

PennyMac Mortgage Investment Trust Stock Up 0.8%

Shares of PMT traded up $0.11 on Thursday, reaching $13.41. The company’s stock had a trading volume of 229,153 shares, compared to its average volume of 1,159,431. The stock has a market capitalization of $1.17 billion, a PE ratio of 14.73, a PEG ratio of 1.09 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72. PennyMac Mortgage Investment Trust has a twelve month low of $11.60 and a twelve month high of $14.93. The firm has a fifty day moving average of $12.82 and a 200-day moving average of $12.47.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. The firm had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Insider Activity

In related news, CEO David Spector bought 10,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the purchase, the chief executive officer directly owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PMT. Trust Co. of Vermont purchased a new position in PennyMac Mortgage Investment Trust in the second quarter valued at $25,000. Flagship Harbor Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $26,000. Allworth Financial LP grew its holdings in shares of PennyMac Mortgage Investment Trust by 1,741.7% during the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,003 shares during the last quarter. Signaturefd LLC grew its position in shares of PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 870 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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.