PennyMac Mortgage Investment Trust (NYSE:PMT) Given Average Recommendation of “Hold” by Brokerages (2024)

Posted by MarketBeat News on Jun 13th, 2024

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) have been given a consensus rating of “Hold” by the six research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.92.

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

Read Our Latest Research Report on PMT

PennyMac Mortgage Investment Trust Stock Performance

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PMT stock opened at $13.72 on Thursday. The firm has a market cap of $1.19 billion, a PE ratio of 9.14 and a beta of 1.50. The business’s 50-day moving average price is $14.04 and its two-hundred day moving average price is $14.31. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.67%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PMT. Barclays PLC increased its position in shares of PennyMac Mortgage Investment Trust by 75.9% in the third quarter. Barclays PLC now owns 85,432 shares of the real estate investment trust’s stock valued at $1,059,000 after acquiring an additional 36,862 shares during the last quarter. New York State Common Retirement Fund increased its position in 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. increased its position in 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 increased its position in 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. increased its position in 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. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.