PennyMac Mortgage Investment Trust’s (PMT) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note issued to investors on Thursday, Benzinga reports. JMP Securities currently has a $15.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on PMT. Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a hold rating and a $15.00 target price for the company. B. Riley upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a buy rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust presently has an average rating of Hold and an average price target of $14.58.

PennyMac Mortgage Investment Trust Trading Up 0.3 %

NYSE PMT opened at $13.28 on Thursday. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $13.89. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.15 billion, a P/E ratio of 8.25 and a beta of 1.48.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.05%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 99.38%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now directly owns 53,311 shares in the company, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the stock. Roble Belko & Company Inc purchased a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $29,000. Almitas Capital LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $28,000. LM Advisors LLC purchased a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $36,000. National Bank of Canada FI lifted its stake in 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 buying an additional 1,603 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 54.9% in the 3rd quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,291 shares during the last quarter. 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.