Shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.25.
A number of brokerages recently commented on PMT. JMP Securities reduced their price objective on shares of PennyMac Mortgage Investment Trust from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 20th. Credit Suisse Group reduced their target price on shares of PennyMac Mortgage Investment Trust to $15.00 in a research note on Thursday, October 13th. StockNews.com started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, October 12th. They assign a sell rating to the stock. Barclays reduced their target price on shares of PennyMac Mortgage Investment Trust from $18.00 to $14.00 in a research note on Friday, January 6th. Finally, Jonestrading cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th.
Shares of PennyMac Mortgage Investment Trust rose 0.1%
PMT opened at $15.12 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -10.29 and a beta of 1.33. PennyMac Mortgage Investment Trust has a twelve month low of $10.78 and a twelve month high of $18.67. The company’s 50-day moving average is $14.20, and its 200-day moving average is $14.08.
PennyMac Mortgage Investment Trust Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Friday, December 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents an annualized dividend of $1.60 and a dividend yield of 10.58%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is -108.84%.
Institutional Investors Rate PennyMac Mortgage Investment Trust
Institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 26.6% in the third quarter. Pacer Advisors Inc. now owns 1,453,426 shares of the real estate investment trust’s stock valued at $17,121,000 after acquiring an additional 305,310 shares during the last quarter. Selective Wealth Management Inc. raised its stake in PennyMac Mortgage Investment Trust by 277.8% in the second quarter. Selective Wealth Management Inc. now owns 13,977 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 10,277 shares during the last quarter. ING Groep NV boosted its stake in PennyMac Mortgage Investment Trust by 15.9% in the second quarter. ING Groep NV now owns 76,211 shares of the real estate investment trust’s stock valued at $1,054,000 after purchasing an additional 10,483 shares during the last quarter. WINTON GROUP Ltd boosted its stake in PennyMac Mortgage Investment Trust by 347.4% in the second quarter. WINTON GROUP Ltd now owns 101,722 shares of the real estate investment trust’s stock valued at $1,407,000 after buying an additional 78,984 shares during the last quarter. Finally, Duality Advisers LP bought a new position in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $252,000. The hedge fund and other institutional investors owned 71.21% of the company’s stock.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust is a financial company that invests primarily in residential mortgage loans and mortgage-related assets. It operates through the following segments: Correspondent Production, Credit Sensitive Strategies, Interest Sensitive Strategies and Corporate Activities. The Correspondent Origination segment is engaged in the purchase, pooling and resale of newly originated mortgage loans of prime credit quality, either directly or in the form of mortgage-backed securities in the capital markets.
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