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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Free Report) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.92.

Several equities analysts recently issued reports on PMT shares. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th.

Check Out Our Latest Stock Report on PMT

PennyMac Mortgage Investment Trust Trading Up 0.1 %

Shares of PMT stock opened at $13.88 on Thursday. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a market capitalization of $1.21 billion, a P/E ratio of 9.25 and a beta of 1.50. The firm has a 50-day moving average price of $13.99 and a 200 day moving average price of $14.31. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.53%. The ex-dividend date is Friday, July 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of PennyMac Mortgage Investment Trust by 75.9% during the third quarter. Barclays PLC now owns 85,432 shares of the real estate investment trust’s stock worth $1,059,000 after buying an additional 36,862 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of PennyMac Mortgage Investment Trust by 83.9% during the third quarter. New York State Common Retirement Fund now owns 69,023 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 31,487 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock worth $16,115,000 after buying an additional 78,311 shares during the last quarter. Deutsche Bank AG raised its stake in shares of PennyMac Mortgage Investment Trust by 12.4% during the third quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 4,878 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of PennyMac Mortgage Investment Trust by 2.8% during the third quarter. Invesco Ltd. now owns 1,213,989 shares of the real estate investment trust’s stock worth $15,053,000 after buying an additional 32,803 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

(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.

Further Reading

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

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