PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) had its price target cut by Piper Sandler from $15.00 to $14.50 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.
A number of other research firms have also recently weighed in on PMT. JMP Securities boosted their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a market outperform rating in a report on Friday, July 19th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a market perform rating to an outperform rating and boosted their price target for the stock from $15.00 to $15.50 in a report on Wednesday, July 10th. Finally, Wedbush reissued a neutral rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $15.00.
Check Out Our Latest Stock Report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Price Performance
PMT traded down $1.15 during trading on Wednesday, reaching $13.32. 2,822,501 shares of the stock were exchanged, compared to its average volume of 742,336. The business's 50 day moving average price is $13.95 and its two-hundred day moving average price is $14.13. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 8.88 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released 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). PennyMac Mortgage Investment Trust had a return on equity of 13.25% and a net margin of 45.19%. The company had revenue of $71.20 million during the quarter, compared to analyst estimates of $90.26 million. During the same period last year, the firm earned $0.16 earnings per share. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.43 earnings per share for the current year.
PennyMac Mortgage Investment Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 12.01%. PennyMac Mortgage Investment Trust's payout ratio is currently 106.67%.
Institutional Investors Weigh In On PennyMac Mortgage Investment Trust
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Roble Belko & Company Inc acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter worth about $29,000. National Bank of Canada FI increased its stake in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. EntryPoint Capital LLC increased its stake in PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 5,015 shares during the last quarter. Entropy Technologies LP acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter worth about $149,000. Finally, Essex Financial Services Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth about $150,000. 67.38% of the stock is currently 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.
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