Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $14.92

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.92.

A number of equities analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Piper Sandler reiterated a “neutral” rating and issued a $15.00 price target (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th. B. Riley raised 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT opened at $13.41 on Friday. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The stock has a 50 day moving average of $14.26 and a 200-day moving average of $14.32. 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 company has a market capitalization of $1.16 billion, a P/E ratio of 8.94 and a beta of 1.47.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.94%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Several large investors have recently made changes to their positions in PMT. Roble Belko & Company Inc bought a new stake in PennyMac Mortgage Investment Trust during the first quarter worth $29,000. National Bank of Canada FI lifted its position 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 worth $49,000 after buying an additional 1,603 shares during the last quarter. EntryPoint Capital LLC boosted its stake in PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,015 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth about $150,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.