PennyMac Mortgage Investment Trust’s (PMT) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note released on Friday, MarketBeat reports. The firm currently has a $12.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $13.50.

A number of other research analysts have also commented on the company. Wells Fargo & Company decreased their price objective on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Citizens Jmp decreased their price objective on 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. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus target price of $13.10.

PennyMac Mortgage Investment Trust Stock Down 0.7%

PMT opened at $11.01 on Friday. PennyMac Mortgage Investment Trust has a 1-year low of $10.86 and a 1-year high of $13.81. The stock’s fifty day simple moving average is $11.82 and its 200 day simple moving average is $12.35. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 7.99. The stock has a market cap of $959.64 million, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The firm had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. As a group, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Thursday, April 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 14.5%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 139.13%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several large investors have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 8.8% during the 3rd quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust’s stock worth $27,028,000 after purchasing an additional 178,834 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,113,185 shares of the real estate investment trust’s stock worth $26,524,000 after purchasing an additional 11,764 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 7.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust’s stock worth $18,405,000 after purchasing an additional 98,701 shares in the last quarter. Millennium Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 41.8% during the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock worth $16,418,000 after purchasing an additional 394,497 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 93.2% during the 3rd quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after purchasing an additional 478,947 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.