Pennymac Mortgage Investment Trust (NYSE:PMT – Get Rating) has an average rating of ‘pending’ from the nine research firms that track it, MarketBeat Ratings reports. One research analyst recommended a sell, one recommended a hold, and two recommended a buy. The average 12-month price target for analysts who updated their stock coverage last year is $15.92.
Several equity research analysts have recently given weight to the company. JMP Securities lowered its price target on Pennymack Mortgage Investment Trust from $16.00 to $15.00, giving it an “above market” rating in its research report on Thursday, October 20. Credit Suisse Group lowered its price target for PennyMac Mortgage Investment Trust to $15.00 in a research report on Thursday, October 13th. Jonestrading downgraded PennyMac Mortgage Investment Trust’s rating from ‘buy’ to ‘hold’ in its research report on Wednesday, November 30. StockNews.com covered PennyMac Mortgage Investment Trust in its investigative report on Wednesday, Oct. 12. They set a “sell” rating on the stock. Finally, B. Riley said in his Monday, November 21st investigative report, Penny Mac raised his mortgage his investment trust’s price target from $15.00 to $16.00.
Institutional investor joins Pennymac Mortgage Investment Trust
Several hedge funds have increased or decreased their stakes in PMT recently. Envestnet Asset Management Inc. in the first quarter bought new shares of PennyMac Mortgage Investment Trust for $213,000. MAS Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 158.9% in the first quarter. MAS Advisors LLC now owns 53,037 real estate investment trust shares valued at $895,000 after purchasing an additional 32,549 shares during the previous quarter. Raymond James Financial Services Advisors Inc. raised his stake in PennyMac Mortgage Investment Trust by 94.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 real estate investment trust shares worth $501,000 after purchasing an additional 14,379 shares last quarter. Bank of New York Mellon Corp increased its stake in Penny Mac Mortgage Investment Trust by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust after purchasing an additional 30,302 shares during the previous quarter. Finally, PNC Financial Services Group Inc. increased his stake in PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 real estate investment trust shares worth $548,000 after purchasing an additional 1,137 shares last quarter. 71.21% of the shares are owned by institutional investors.
Pennymac Mortgage Investment Trust Price Performance
PMT opened at $13.30 on Thursday. The company has a debt to equity ratio of 1.35, a quick ratio of 0.45 and a current ratio of 0.45. PennyMac Mortgage Investment Trust has a 52-week low of $10.78 and a 52-week high of $18.67. The stock has a market cap of $1.18 billion, a PE ratio of -9.05 and a beta of 1.33. The stock has a 50-day moving average price of $14.20 and a 200-day moving average price of $14.05.
Pennymac Mortgage Investment Trust Cuts Dividend
The business recently announced a quarterly dividend payable on Friday, January 27th. Dividends of $0.40 will be issued to shareholders of record on Friday, December 30. This represents his $1.60 dividend and his 12.03% yield on an annualized basis. The ex-dividend date is Thursday, December 29. PennyMac Mortgage Investment Trust has a dividend payout ratio (DPR) of -108.84%.
About Pennymack Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a professional financial firm that invests primarily in US mortgage-related assets. The Company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) contracts, CRT securities, distressed loans, real estate and non-agency subordinated debt.
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