PennyMac Mortgage Investment Trust’s (PMT) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note issued to investors on Thursday morning,Benzinga reports. JMP Securities currently has a $15.50 price objective on the real estate investment trust’s stock.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.20.

PennyMac Mortgage Investment Trust Trading Up 0.5 %

PMT stock opened at $12.62 on Thursday. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 9.28 and a beta of 1.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $13.00 and a 200-day simple moving average of $13.58.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, December 27th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.68%. The ex-dividend date was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 18.2% in the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after acquiring an additional 77,955 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PennyMac Mortgage Investment Trust by 90.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares during the period. Citigroup Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 43.2% in the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after buying an additional 123,079 shares in the last quarter. Barclays PLC boosted its position in PennyMac Mortgage Investment Trust by 218.7% in the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after buying an additional 102,067 shares during the last quarter. Finally, K2 Principal Fund L.P. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter valued at about $5,841,000. 67.38% of the stock is currently 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.