PennyMac Mortgage Investment Trust (NYSE:PMT) Forecasted to Earn FY2024 Earnings of $1.40 Per Share

PennyMac Mortgage Investment Trust (NYSE:PMT) – Stock analysts at Wedbush upped their FY2024 earnings per share estimates for shares of PennyMac Mortgage Investment Trust in a research report issued to clients and investors on Monday, April 29th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $1.40 per share for the year, up from their prior estimate of $1.35. Wedbush currently has a “Neutral” rating and a $15.00 target price on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.36 per share. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.32 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.37 EPS.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price on the stock. B. Riley upped their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, JMP Securities reaffirmed 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average price target of $14.75.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $14.34 on Tuesday. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average is $14.11 and its 200 day moving average is $14.03. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 9.56 and a beta of 1.48.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.16%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the 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 sale, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.89% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in PennyMac Mortgage Investment Trust by 16.5% in 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 buying an additional 1,115 shares during the period. National Bank of Canada FI increased its position in shares of 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 worth $49,000 after acquiring an additional 1,603 shares during the period. Roble Belko & Company Inc bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at approximately $29,000. Victory Capital Management Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 16.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 2,439 shares during the period. Finally, Van ECK Associates Corp grew its stake in PennyMac Mortgage Investment Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock worth $6,797,000 after purchasing an additional 3,192 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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.