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

Posted by Defense World Staff on Jun 13th, 2024

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $14.92.

Several brokerages have recently weighed in on PMT. 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 restated a “neutral” rating and issued a $15.00 price objective 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 objective (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th.

Get Our Latest Analysis on PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust Trading Up 1.4 %

NYSE:PMT opened at $13.72 on Thursday. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 9.14 and a beta of 1.50. The business has a fifty day moving average of $14.04 and a 200-day moving average of $14.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34.

PennyMac Mortgage Investment Trust Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PMT. Jane Street Group LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 124.7% during the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after acquiring an additional 161,723 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 5,015 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 173.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock valued at $2,280,000 after acquiring an additional 98,500 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at about $157,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of PennyMac Mortgage Investment Trust by 53.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,766 shares of the real estate investment trust’s stock valued at $569,000 after acquiring an additional 13,530 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.