PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average Recommendation of “Hold” from Brokerages

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) has been given an average rating of “Hold” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $15.92.

Several equities research analysts recently weighed in on the company. JMP Securities dropped their price target on PennyMac Mortgage Investment Trust from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 20th. Credit Suisse Group dropped their price target on PennyMac Mortgage Investment Trust to $15.00 in a research report on Thursday, October 13th. Jonestrading lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, November 30th. StockNews.com assumed coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, B. Riley lifted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 in a research report on Monday, November 21st.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in PMT. Envestnet Asset Management Inc. bought a new stake in PennyMac Mortgage Investment Trust in the first quarter worth $213,000. MAS Advisors LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 158.9% in the first quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock worth $895,000 after purchasing an additional 32,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 94.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 shares of the real estate investment trust’s stock worth $501,000 after purchasing an additional 14,379 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PennyMac Mortgage Investment Trust by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock worth $18,800,000 after purchasing an additional 30,302 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 1,137 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Price Performance

PMT opened at $13.30 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.45 and a current ratio of 0.45. PennyMac Mortgage Investment Trust has a 52-week low of $10.78 and a 52-week high of $18.67. The stock has a market capitalization of $1.18 billion, a PE ratio of -9.05 and a beta of 1.33. The stock’s 50 day moving average price is $14.20 and its 200-day moving average price is $14.05.

PennyMac Mortgage Investment Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, December 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.03%. The ex-dividend date is Thursday, December 29th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is -108.84%.

About PennyMac Mortgage Investment Trust

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

See Also

Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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