PennyMac Mortgage Investment Trust’s (PMT) “Neutral” Rating Reiterated at Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $15.00 target price on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential upside of 9.17% from the stock’s previous close.

PMT has been the subject of several other reports. JMP Securities boosted their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, B. Riley reiterated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Trading Up 1.6 %

Shares of NYSE PMT traded up $0.22 during mid-day trading on Thursday, reaching $13.74. 228,923 shares of the company’s stock were exchanged, compared to its average volume of 728,618. The company’s 50-day moving average is $14.04 and its 200-day moving average is $13.97. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.07 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The business had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same quarter last year, the firm posted $0.51 EPS. Analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 2,879 shares of company stock valued at $39,028 over the last quarter. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in PennyMac Mortgage Investment Trust by 1,607.2% during the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after acquiring an additional 346,358 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 781.5% in the second quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust’s stock valued at $3,082,000 after purchasing an additional 198,688 shares during the period. Jane Street Group LLC raised its stake in shares of 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 worth $4,277,000 after purchasing an additional 161,723 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 223.1% during the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after purchasing an additional 160,595 shares during the period. Finally, Van ECK Associates Corp grew its position in PennyMac Mortgage Investment Trust by 34.4% in the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after buying an additional 159,131 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.