Analysts Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $13.60

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.60.

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Citigroup reissued an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Citizens Jmp dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, January 22nd. Finally, Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $12.33 on Friday. PennyMac Mortgage Investment Trust has a one year low of $11.15 and a one year high of $13.81. The business has a fifty day moving average price of $11.87 and a 200-day moving average price of $12.36. The company has a debt-to-equity ratio of 6.55, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $1.08 billion, a P/E ratio of 12.59, a PEG ratio of 0.60 and a beta of 1.19.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.The firm had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. As a group, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Thursday, April 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.60 annualized dividend and a yield of 13.0%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 163.27%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in PennyMac Mortgage Investment Trust by 17.0% during the first quarter. QRG Capital Management Inc. now owns 13,123 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 1,905 shares during the period. New York State Teachers Retirement System boosted its stake in PennyMac Mortgage Investment Trust by 5.4% during the first quarter. New York State Teachers Retirement System now owns 133,260 shares of the real estate investment trust’s stock valued at $1,554,000 after buying an additional 6,827 shares during the period. Inspire Investing LLC boosted its stake in PennyMac Mortgage Investment Trust by 19.6% during the first quarter. Inspire Investing LLC now owns 44,424 shares of the real estate investment trust’s stock valued at $518,000 after buying an additional 7,275 shares during the period. Maridea Wealth Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 4.8% during the first quarter. Maridea Wealth Management LLC now owns 43,430 shares of the real estate investment trust’s stock valued at $506,000 after buying an additional 1,974 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at $450,000. Institutional investors own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.