PennyMac Mortgage Investment Trust (NYSE:PMT) Given Neutral Rating at Wedbush

Wedbush reissued their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a report issued on Monday, Benzinga reports. They currently have a $15.00 price target on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on PMT. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a hold rating and a $15.00 price target for the company. B. Riley boosted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, JMP Securities reaffirmed a market outperform rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $14.75.

PennyMac Mortgage Investment Trust Trading Down 0.6 %

Shares of NYSE:PMT opened at $14.02 on Monday. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a market capitalization of $1.22 billion, a PE ratio of 9.34 and a beta of 1.48. The business has a 50 day moving average of $14.10 and a two-hundred day moving average of $14.01. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.42%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently made changes to their positions in the company. Roble Belko & Company Inc purchased a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. National Bank of Canada FI grew its holdings 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. Allspring Global Investments Holdings LLC grew its holdings in PennyMac Mortgage Investment Trust by 16.5% in 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 buying an additional 1,115 shares in the last quarter. Oak Thistle LLC purchased a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter valued at $125,000. Finally, Essex Financial Services Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $150,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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.