PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Rating of “Buy” by Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.42.

Several research analysts have recently weighed in on the stock. CSFB boosted their price target on shares of PennyMac Mortgage Investment Trust from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 16th. Bank of America lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “neutral” rating in a report on Tuesday, April 28th. Deutsche Bank increased their target price on shares of PennyMac Mortgage Investment Trust from $12.50 to $19.00 in a research note on Tuesday, June 23rd. Finally, TheStreet downgraded shares of PennyMac Mortgage Investment Trust from a “c” rating to a “d” rating in a research note on Thursday, May 7th.

Several large investors have recently bought and sold shares of PMT. FSA Wealth Management LLC purchased a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $39,000. PNC Financial Services Group Inc. boosted its position in PennyMac Mortgage Investment Trust by 52.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,915 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 2,377 shares during the period. Infrastructure Capital Advisors LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $95,000. Squarepoint Ops LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $112,000. Finally, Tower Research Capital LLC TRC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $136,000. 72.89% of the stock is owned by hedge funds and other institutional investors.

Shares of PMT stock traded up $0.07 on Wednesday, hitting $17.53. 2,050,200 shares of the stock traded hands, compared to its average volume of 1,921,286. The firm’s 50-day moving average price is $13.64 and its two-hundred day moving average price is $16.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $1.77 billion, a PE ratio of -4.14 and a beta of 1.15. PennyMac Mortgage Investment Trust has a twelve month low of $3.50 and a twelve month high of $23.79.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($5.99) earnings per share for the quarter, missing the consensus estimate of ($2.81) by ($3.18). The firm had revenue of ($506.52) million for the quarter, compared to analyst estimates of $133.30 million. PennyMac Mortgage Investment Trust had a net margin of 46.31% and a negative return on equity of 23.31%. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post -2.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 15th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.13%. This is a boost from PennyMac Mortgage Investment Trust’s previous quarterly dividend of $0.25. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 41.32%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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