PennyMac Mortgage Investment Trust (NYSE:PMT) Receives $14.58 Consensus Price Target from Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have received a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $14.58.

A number of brokerages have issued reports on PMT. B. Riley boosted 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 research report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock.

PennyMac Mortgage Investment Trust Trading Down 0.3 %

NYSE:PMT opened at $14.10 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average of $14.09 and a 200 day moving average of $13.97. The firm has a market capitalization of $1.22 billion, a P/E ratio of 9.40 and a beta of 1.48. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.35%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently bought and sold shares of PMT. SG Americas Securities LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $613,000. Oak Thistle LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $125,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in PennyMac Mortgage Investment Trust by 4.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,236 shares of the real estate investment trust’s stock valued at $8,013,000 after acquiring an additional 28,370 shares during the period. Inspire Investing LLC bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $306,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.