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

Separately, Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $17.46.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 17.20 on Friday. PennyMac Mortgage Investment Trust has a 1-year low of $14.28 and a 1-year high of $18.46. The firm’s 50-day moving average price is $17.57 and its 200 day moving average price is $17.52. The company has a market capitalization of $1.15 billion, a PE ratio of 10.28 and a beta of 0.52.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The company had revenue of $83.96 million for the quarter, compared to analysts’ expectations of $80.12 million. PennyMac Mortgage Investment Trust had a net margin of 37.97% and a return on equity of 8.67%. The business’s revenue was up 76.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. Equities analysts predict that PennyMac Mortgage Investment Trust will post $1.68 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “PennyMac Mortgage Investment Trust (PMT) Stock Rating Upgraded by BidaskClub” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/pennymac-mortgage-investment-trust-pmt-stock-rating-upgraded-by-bidaskclub/1530701.html.

In other PennyMac Mortgage Investment Trust news, CEO David Spector sold 8,235 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, June 5th. The shares were sold at an average price of $17.59, for a total value of $144,853.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew S. Chang sold 1,937 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, June 5th. The stock was sold at an average price of $17.64, for a total transaction of $34,168.68. The disclosure for this sale can be found here. Insiders sold a total of 12,626 shares of company stock valued at $222,229 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of PMT. Ameritas Investment Partners Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at about $104,000. Public Employees Retirement System of Ohio raised 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 buying an additional 304 shares during the period. ProShare Advisors LLC raised its stake in PennyMac Mortgage Investment Trust by 198.3% in the first quarter. ProShare Advisors LLC now owns 33,844 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 22,500 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at about $184,000. Finally, Jane Street Group LLC purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at about $190,000. 62.47% of the stock is owned by institutional investors and hedge funds.

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. (its Operating Partnership) and its subsidiaries.

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with Analyst Ratings Network's FREE daily email newsletter.