Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target at $15.20

PennyMac Mortgage Investment Trust (NYSE:PMT) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.83.

Several research firms have commented on PMT. JMP Securities reaffirmed a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. UBS Group dropped their target price on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $12.99 on Wednesday. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22. The business’s 50 day moving average price is $14.01 and its 200 day moving average price is $13.54. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.13 billion, a P/E ratio of 9.76 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. On average, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.32%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 120.30%.

Insider Buying and Selling

In related news, Director Doug Jones sold 14,530 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company’s stock, valued at approximately $929,189. The trade was a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in PennyMac Mortgage Investment Trust by 204.0% in the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,363 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 822 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,288 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.