Wedbush reissued their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in a research note issued to investors on Thursday morning, Benzinga reports. Wedbush currently has a $15.00 target price on the real estate investment trust's stock.
Several other brokerages have also issued reports on PMT. JMP Securities upped their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a market outperform rating in a research note on Friday, July 19th. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a neutral rating on the stock in a research note on Wednesday. B. Riley restated a buy rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a market perform rating to an outperform rating and increased their price target for the stock from $15.00 to $15.50 in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of Hold and an average target price of $14.93.
Read Our Latest Stock Analysis on PMT
PennyMac Mortgage Investment Trust Stock Performance
Shares of PMT traded up $0.24 on Thursday, reaching $13.56. 1,069,964 shares of the stock traded hands, compared to its average volume of 744,645. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 9.04 and a beta of 1.51. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The stock's 50-day moving average price is $13.92 and its 200-day moving average price is $14.13.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates 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 13.26%. During the same quarter last year, the company earned $0.16 earnings per share. Equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.43 EPS for the current fiscal year.
PennyMac Mortgage Investment Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.80%. PennyMac Mortgage Investment Trust's payout ratio is 106.67%.
Institutional Trading of PennyMac Mortgage Investment Trust
Several hedge funds have recently added to or reduced their stakes in PMT. Louisiana State Employees Retirement System raised its holdings in PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust's stock valued at $601,000 after acquiring an additional 800 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of PennyMac Mortgage Investment Trust by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust's stock valued at $1,113,000 after purchasing an additional 1,179 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 1,207 shares during the last quarter. National Bank of Canada FI increased its stake in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,603 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. 67.38% of the stock is owned by institutional investors and hedge funds.
PennyMac Mortgage Investment Trust Company Profile
(Get Free Report)
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.
Read More
- Five stocks we like better than PennyMac Mortgage Investment Trust
- Airline Stocks - Top Airline Stocks to Buy Now
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- Investing in Commodities: What Are They? How to Invest in Them
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
→ Have you ever… (From DTI) (Ad)
Should you invest $1,000 in PennyMac Mortgage Investment Trust right now?
Before you consider PennyMac Mortgage Investment Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PennyMac Mortgage Investment Trust wasn't on the list.
While PennyMac Mortgage Investment Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A Guide To High-Short-Interest Stocks
MarketBeat's analysts have just released their top five short plays for August 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
