PennyMac Mortgage Investment Trust (NYSE:PMT) Given “Neutral” Rating at Piper Sandler

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reiterated by Piper Sandler in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $15.00 target price on the real estate investment trust’s stock, up from their previous target price of $14.50. Piper Sandler’s target price indicates a potential upside of 2.70% from the stock’s current price.

A number of other analysts have also weighed in on the stock. B. Riley increased their price objective on shares of 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. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective for the company. Finally, 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus target price of $14.92.

PennyMac Mortgage Investment Trust Stock Down 0.2 %

NYSE PMT opened at $14.61 on Thursday. The company has a fifty day moving average of $14.19 and a two-hundred day moving average of $14.14. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.74 and a beta of 1.47. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89.

Insider Transactions at PennyMac Mortgage Investment Trust

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 sale, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors have recently bought and sold shares of PMT. Roble Belko & Company Inc purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at approximately $29,000. National Bank of Canada FI lifted its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% during 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 last quarter. 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 in the last quarter. Entropy Technologies LP purchased a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth $149,000. Finally, Essex Financial Services Inc. acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at about $150,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.