Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have been assigned a consensus rating of "Hold" from the six analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.92.
Several research analysts have recently commented on the company. JMP Securities restated a "market outperform" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Wedbush reissued 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. Finally, Piper Sandler reissued a "neutral" rating and set a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th.
Get Our Latest Stock Analysis on PMT
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMT. Texas Permanent School Fund Corp raised its position in shares of PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust's stock valued at $1,113,000 after purchasing an additional 1,179 shares during the period. ProShare Advisors LLC raised its holdings in PennyMac Mortgage Investment Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust's stock worth $257,000 after purchasing an additional 1,207 shares during the last quarter. National Bank of Canada FI increased its stake in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,603 shares during the last quarter. Roble Belko & Company Inc acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $29,000. Finally, Victory Capital Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust's stock valued at $265,000 after purchasing an additional 2,439 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Trading Up 0.4 %
Shares of NYSE PMT traded up $0.06 during mid-day trading on Monday, reaching $13.83. The company had a trading volume of 1,101,904 shares, compared to its average volume of 694,953. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The business's 50-day moving average is $14.01 and its 200-day moving average is $14.21. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.18 and a beta of 1.51.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.57%. PennyMac Mortgage Investment Trust's payout ratio is 106.67%.
About PennyMac Mortgage Investment Trust
(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.
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