PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Rating of “Hold” from Analysts (2024)

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.92.

Several analysts recently weighed in on PMT shares. JMP Securities reissued a “market outperform” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. B. Riley raised their price objective on 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. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th.

Read Our Latest Analysis on PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust Trading Down 0.9 %

PMT opened at $15.04 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The company’s 50 day moving average price is $14.29 and its two-hundred day moving average price is $14.31. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.03 and a beta of 1.47.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend was Thursday, April 11th. 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 the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMT. Allspring Global Investments Holdings LLC increased its stake in 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 valued at $97,000 after purchasing an additional 1,115 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of PennyMac Mortgage Investment Trust by 14.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 78,513 shares of the real estate investment trust’s stock worth $974,000 after acquiring an additional 10,105 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $646,000. Jump Financial LLC boosted its stake in PennyMac Mortgage Investment Trust by 153.7% during the 3rd quarter. Jump Financial LLC now owns 27,323 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 16,555 shares during the last quarter. Finally, Barclays PLC increased its holdings in PennyMac Mortgage Investment Trust by 75.9% during the 3rd quarter. Barclays PLC now owns 85,432 shares of the real estate investment trust’s stock worth $1,059,000 after purchasing an additional 36,862 shares in the last quarter. 67.38% of the stock is 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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