PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Market Outperform Rating from JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $15.50 price target on the real estate investment trust’s stock. JMP Securities’ target price points to a potential upside of 22.58% from the company’s previous close.

Separately, Wedbush restated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Stock Up 0.4 %

PMT traded up $0.05 during trading on Thursday, reaching $12.65. 46,118 shares of the stock traded hands, compared to its average volume of 664,781. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 9.30 and a beta of 1.50. The stock’s 50-day simple moving average is $13.02 and its two-hundred day simple moving average is $13.59. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.26 EPS for the current year.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. K2 Principal Fund L.P. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $5,841,000. International Assets Investment Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 1,607.2% in the third 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 purchasing an additional 346,358 shares in the last quarter. Wolverine Asset Management LLC lifted its position in PennyMac Mortgage Investment Trust by 105.8% in the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after purchasing an additional 237,210 shares during the period. Millennium Management LLC boosted its stake in 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 buying an additional 160,595 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its holdings in PennyMac Mortgage Investment Trust by 40.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock valued at $5,884,000 after buying an additional 123,890 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.