PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $22.79 Consensus PT from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $22.79.

Several equities analysts recently issued reports on the stock. Deutsche Bank assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Friday, October 11th. They set a “buy” rating and a $24.00 price target for the company. Bank of America initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, September 23rd. They set a “buy” rating and a $23.00 price target for the company. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Compass Point initiated coverage on shares of PennyMac Mortgage Investment Trust in a research report on Monday, December 2nd. They issued a “neutral” rating and a $22.50 price objective for the company.

In other PennyMac Mortgage Investment Trust news, insider Doug Jones sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $22.91, for a total value of $114,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.45% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PMT. Flagship Harbor Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 24.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,521 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 500 shares during the period. NEXT Financial Group Inc grew its position in shares of PennyMac Mortgage Investment Trust by 334.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,756 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 2,121 shares during the period. Signaturefd LLC grew its position in shares of PennyMac Mortgage Investment Trust by 229.1% during the 2nd quarter. Signaturefd LLC now owns 2,873 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 2,000 shares during the period. Catalyst Capital Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 147.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 5,250 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 3,130 shares during the period. Finally, Point72 Hong Kong Ltd grew its position in shares of PennyMac Mortgage Investment Trust by 2,028.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 6,001 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 5,719 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.

PMT stock traded down $0.62 during trading on Friday, hitting $22.20. 48,358 shares of the stock traded hands, compared to its average volume of 545,306. PennyMac Mortgage Investment Trust has a one year low of $17.88 and a one year high of $23.35. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.93 and a beta of 0.59. The company has a 50 day simple moving average of $22.76 and a 200 day simple moving average of $22.14. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.27.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.20. PennyMac Mortgage Investment Trust had a net margin of 50.13% and a return on equity of 13.38%. The firm had revenue of $130.76 million during the quarter, compared to the consensus estimate of $116.95 million. During the same period last year, the firm posted $0.62 EPS. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 2.38 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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