PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $15.17 Average Target Price from Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.17.

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of the business. K2 Principal Fund L.P. purchased a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at approximately $5,841,000. International Assets Investment Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 1,607.2% during the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after acquiring an additional 346,358 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 105.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after acquiring an additional 237,210 shares in the last quarter. Millennium Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 223.1% in the 2nd quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after purchasing an additional 160,595 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of PennyMac Mortgage Investment Trust by 34.4% in the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after purchasing an additional 159,131 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.70 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The company has a market cap of $1.10 billion, a PE ratio of 9.34 and a beta of 1.50. The company’s fifty day simple moving average is $13.27 and its 200-day simple moving average is $13.71. PennyMac Mortgage Investment Trust has a 52 week low of $12.33 and a 52 week high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. During the same period last year, the business earned $0.51 earnings per share. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.60%. The ex-dividend date of this dividend is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

About PennyMac Mortgage Investment Trust

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.