Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target at $15.17

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $15.17.

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMT. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth $28,000. Simplify Asset Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at about $143,000. Aigen Investment Management LP purchased a new stake in PennyMac Mortgage Investment Trust in the third quarter worth about $152,000. Allspring Global Investments Holdings LLC bought a new position in PennyMac Mortgage Investment Trust during the 2nd quarter worth about $177,000. Finally, Caprock Group LLC increased its position in PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 1,156 shares during the period. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.2 %

Shares of NYSE:PMT opened at $12.59 on Monday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 9.26 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 12 month low of $12.33 and a 12 month high of $15.22. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average price of $13.32 and a 200 day moving average price of $13.73.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.71%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

About PennyMac Mortgage Investment Trust

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.