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

PennyMac Mortgage Investment Trust (NYSE:PMT) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $15.00.

Several equities analysts recently weighed in on PMT shares. JMP Securities reiterated 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. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $15.00 to $15.50 in a report on Wednesday, July 10th. Wedbush restated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Finally, Piper Sandler reiterated a “neutral” rating and set a $15.00 price objective (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $9,781,000. International Assets Investment Management LLC raised its position in PennyMac Mortgage Investment Trust by 1,307.8% during the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock worth $4,872,000 after acquiring an additional 302,760 shares during the period. Jane Street Group LLC lifted its holdings in PennyMac Mortgage Investment Trust by 124.7% during the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after purchasing an additional 161,723 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at about $2,105,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 173.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock worth $2,280,000 after purchasing an additional 98,500 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 1.9 %

PennyMac Mortgage Investment Trust stock opened at $14.34 on Monday. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The company has a market cap of $1.25 billion, a PE ratio of 9.56 and a beta of 1.51. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The business’s 50-day simple moving average is $14.00 and its two-hundred day simple moving average is $14.16.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.16%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 106.67%.

PennyMac Mortgage Investment Trust Company Profile

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.