PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has been given a consensus recommendation of "Hold" by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.92.
A number of research firms have recently issued reports on PMT. Piper Sandler restated a "neutral" rating and set a $15.00 price target (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Wedbush reiterated a "neutral" rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. JMP Securities restated a "market outperform" rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Finally, B. Riley increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th.
Get Our Latest Stock Analysis on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Trading Down 0.9 %
PMT traded down $0.13 during trading on Friday, reaching $15.04. The company had a trading volume of 369,900 shares, compared to its average volume of 574,380. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 10.03 and a beta of 1.47. The firm's 50-day simple moving average is $14.29 and its 200 day simple moving average is $14.31.
PennyMac Mortgage Investment Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 10.64%. PennyMac Mortgage Investment Trust's dividend payout ratio is 106.67%.
Insider Activity at PennyMac Mortgage Investment Trust
In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
Institutional investors have recently bought and sold shares of the stock. Roble Belko & Company Inc bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth $29,000. National Bank of Canada FI boosted its holdings in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,603 shares during the period. EntryPoint Capital LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 5,015 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Essex Financial Services Inc. bought a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $150,000. 67.38% of the stock is currently owned by institutional investors.
About PennyMac Mortgage Investment Trust
(Get Free Report
PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.
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