Recent Analysts’ Ratings Changes for PennyMac Mortgage Investment Trust (PMT)

PennyMac Mortgage Investment Trust (NYSE: PMT) has recently received a number of price target changes and ratings updates:

• 7/25/2024 – PennyMac Mortgage Investment Trust had its price target lowered by analysts at Keefe, Bruyette & Woods from $15.50 to $15.00. They now have an “outperform” rating on the stock.
• 7/25/2024 – PennyMac Mortgage Investment Trust had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $15.00 price target on the stock.
• 7/24/2024 – PennyMac Mortgage Investment Trust had its price target lowered by analysts at Piper Sandler from $15.00 to $14.50. They now have a “neutral” rating on the stock.
• 7/24/2024 – PennyMac Mortgage Investment Trust had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $16.00 price target on the stock.
• 7/19/2024 – PennyMac Mortgage Investment Trust had its price target raised by analysts at JMP Securities from $15.00 to $15.50. They now have a “market outperform” rating on the stock.
• 7/10/2024 – PennyMac Mortgage Investment Trust was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $15.50 price target on the stock, up previously from $15.00.

PennyMac Mortgage Investment Trust Stock Up 1.0 %

Shares of NYSE PMT traded up $0.14 during mid-day trading on Friday, reaching $13.69. 299,900 shares of the company’s stock were exchanged, compared to its average volume of 741,387. The company has a current ratio of 0.33, a quick ratio of 0.34 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.13 and a beta of 1.51. The business has a fifty day simple moving average of $13.92 and a 200 day simple moving average of $14.13. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.43 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors 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 11.69%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 45.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 37,021 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 11,501 shares in the last quarter. International Assets Investment Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 1,307.8% in 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 purchasing an additional 302,760 shares during the last quarter. Advisors Preferred LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth $2,105,000. Vaughan Nelson Investment Management L.P. raised its holdings in PennyMac Mortgage Investment Trust by 4.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock valued at $23,501,000 after buying an additional 64,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in PennyMac Mortgage Investment Trust by 10.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 43,519 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 4,239 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.