PennyMac Mortgage Investment Trust (NYSE:PMT) PT Raised to $15.50 at JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT) had its price target increased by JMP Securities from $15.00 to $15.50 in a report published on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on PMT. Wedbush reiterated a neutral rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. 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. Finally, Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a market perform rating to an outperform rating and raised their price objective for the company from $15.00 to $15.50 in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of Hold and a consensus target price of $15.07.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $14.50 on Friday. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1.26 billion, a P/E ratio of 9.67 and a beta of 1.51. The firm’s 50 day moving average is $13.99 and its two-hundred day moving average is $14.14.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 11.03%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PMT. Clearview Wealth Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $318,000. Raymond James Financial Services Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 45.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 37,021 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 11,501 shares during the period. International Assets Investment Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 1,307.8% in the 4th quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock worth $4,872,000 after purchasing an additional 302,760 shares during the period. Advisors Preferred LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $2,105,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in PennyMac Mortgage Investment Trust by 4.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock worth $23,501,000 after purchasing an additional 64,055 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.