Brokerages Set PennyMac Mortgage Investment Trust (NYSE:PMT) Price Target at $18.72

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) have been given a consensus recommendation of “Hold” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.72.

A number of brokerages have recently commented on PMT. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. StockNews.com upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Piper Sandler lowered their price objective on PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Jonestrading lowered their price target on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research report on Friday, May 6th. Finally, Credit Suisse Group reduced their price objective on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at $36,000. Selective Wealth Management Inc. acquired a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $62,000. Steward Partners Investment Advisory LLC boosted its holdings in PennyMac Mortgage Investment Trust by 1,116.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,350 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at approximately $84,000. Finally, Samalin Investment Counsel LLC increased its position in shares of PennyMac Mortgage Investment Trust by 119.9% in the 1st quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 2,834 shares in the last quarter. 70.77% of the stock is owned by hedge funds and other institutional investors.

Shares of PMT stock opened at $16.17 on Wednesday. PennyMac Mortgage Investment Trust has a 12 month low of $14.61 and a 12 month high of $21.53. The firm has a market cap of $1.57 billion, a PE ratio of -22.15 and a beta of 1.11. The stock has a 50 day moving average of $15.87 and a 200-day moving average of $16.79. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.38.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Investors of record on Friday, April 15th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.63%. The ex-dividend date of this dividend was Wednesday, April 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio is -257.53%.

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.

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