Q1 2023 EPS Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT) Cut by B. Riley

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) – Research analysts at B. Riley cut their Q1 2023 earnings per share (EPS) estimates for PennyMac Mortgage Investment Trust in a report released on Monday, November 21st. B. Riley analyst M. Howlett now expects that the real estate investment trust will post earnings of $0.40 per share for the quarter, down from their prior estimate of $0.44. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is ($0.82) per share. B. Riley also issued estimates for PennyMac Mortgage Investment Trust’s Q2 2023 earnings at $0.40 EPS, Q3 2023 earnings at $0.40 EPS, Q4 2023 earnings at $0.40 EPS and FY2023 earnings at $1.60 EPS.

PMT has been the topic of a number of other reports. StockNews.com started coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Piper Sandler reduced their price objective on PennyMac Mortgage Investment Trust from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, September 30th. Credit Suisse Group reduced their price objective on PennyMac Mortgage Investment Trust to $15.00 in a research report on Thursday, October 13th. Finally, JMP Securities reduced their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.57.

PennyMac Mortgage Investment Trust Stock Up 1.1 %

PMT opened at $15.20 on Tuesday. The business’s fifty day moving average is $13.33 and its two-hundred day moving average is $14.33. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.35. PennyMac Mortgage Investment Trust has a one year low of $10.78 and a one year high of $18.72.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake in PennyMac Mortgage Investment Trust by 78.6% during the second quarter. CWM LLC now owns 1,918 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 844 shares during the last quarter. Federated Hermes Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter worth about $33,000. Rockefeller Capital Management L.P. increased its stake in PennyMac Mortgage Investment Trust by 30.6% during the third quarter. Rockefeller Capital Management L.P. now owns 3,346 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 783 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 19.1% during the third quarter. Catalyst Capital Advisors LLC now owns 5,290 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 850 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in PennyMac Mortgage Investment Trust by 32.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 4,850 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,200 shares during the last quarter. 69.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, CEO David Spector bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average cost of $13.71 per share, for a total transaction of $274,200.00. Following the completion of the purchase, the chief executive officer now owns 232,574 shares of the company’s stock, valued at approximately $3,188,589.54. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.78% of the company’s stock.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.88 annualized dividend and a yield of 12.37%. PennyMac Mortgage Investment Trust’s payout ratio is currently -127.89%.

PennyMac Mortgage Investment Trust Company Profile

(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.

Read More

Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider PennyMac Mortgage Investment Trust, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and PennyMac Mortgage Investment Trust wasn’t on the list.

While PennyMac Mortgage Investment Trust currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Leave a Comment