Analysts Set PennyMac Mortgage Investment Trust (NYSE:PMT) PT at $13.75
by Kim Johansen · The Markets DailyPennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) has been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.60.
PMT has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Citizens Jmp dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 22nd. Citigroup reissued an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research report on Thursday, December 18th.
Get Our Latest Stock Report on PMT
PennyMac Mortgage Investment Trust Stock Up 0.0%
Shares of NYSE:PMT opened at $11.97 on Wednesday. PennyMac Mortgage Investment Trust has a 1 year low of $11.15 and a 1 year high of $14.61. The company has a market capitalization of $1.04 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The business has a fifty day moving average price of $12.09 and a two-hundred day moving average price of $12.39. The company has a debt-to-equity ratio of 6.55, a current ratio of 1.12 and a quick ratio of 1.12.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) last released its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.The company had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $96.96 million. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.
PennyMac Mortgage Investment Trust Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date is Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 163.27%.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
Several hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in PennyMac Mortgage Investment Trust by 3.3% during the third quarter. Amalgamated Bank now owns 25,689 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 831 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 8.0% in the 4th quarter. Evergreen Capital Management LLC now owns 12,417 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 915 shares in the last quarter. CWM LLC boosted its holdings in PennyMac Mortgage Investment Trust by 57.7% in the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,077 shares during the period. Collar Capital Management LLC grew its position in shares of PennyMac Mortgage Investment Trust by 1.2% during the 4th quarter. Collar Capital Management LLC now owns 90,615 shares of the real estate investment trust’s stock valued at $1,137,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% in the fourth quarter. Wedbush Securities Inc. now owns 90,310 shares of the real estate investment trust’s stock worth $1,133,000 after purchasing an additional 1,125 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.
Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.