PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has earned an average recommendation of "Hold" from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.92.
A number of equities analysts have recently commented on PMT shares. Piper Sandler reaffirmed a "neutral" rating and set a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Wedbush reaffirmed a "neutral" rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. JMP Securities reiterated 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. Finally, B. Riley raised their target price 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.
Read Our Latest Stock Analysis on PMT
Insider Buying and Selling
In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares of the company's stock, valued at $764,479.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 modified their holdings of the stock. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $29,000. National Bank of Canada FI lifted its stake in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th 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 period. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 1,115 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 5,015 shares during the period. Finally, Entropy Technologies LP bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at about $149,000. Institutional investors and hedge funds own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Stock Performance
Shares of NYSE PMT traded down $0.13 during mid-day trading on Friday, hitting $15.04. The company had a trading volume of 369,900 shares, compared to its average volume of 574,380. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The firm has a market cap of $1.31 billion, a P/E ratio of 10.03 and a beta of 1.47. The business's 50-day simple moving average is $14.29 and its 200-day simple moving average is $14.32. 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 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 10.64%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is currently 106.67%.
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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