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

Posted by Defense World Staff on May 19th, 2024

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) has earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.92.

PMT has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Finally, B. Riley upped their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th.

View Our Latest Research Report on PennyMac Mortgage Investment Trust

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares in the company, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Roble Belko & Company Inc bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $29,000. National Bank of Canada FI increased its stake 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 purchasing an additional 1,603 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 16.5% during the third 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 period. EntryPoint Capital LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 251.8% in the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 5,015 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $149,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.9 %

Shares of PMT opened at $15.04 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The firm has a market capitalization of $1.31 billion, a P/E ratio of 10.03 and a beta of 1.47. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. The stock’s fifty day simple moving average is $14.29 and its 200 day simple moving average is $14.31.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend 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 (DPR) is currently 106.67%.

PennyMac Mortgage Investment Trust Company Profile

(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.