PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Recommendation of "Hold" by Analysts (2024)

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) has earned an average recommendation of "Hold" from the six brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $14.92.

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a "market outperform" rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Piper Sandler restated a "neutral" rating and issued a $15.00 target price (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th. Finally, Wedbush restated a "neutral" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th.

Get Our Latest Report on PMT

PennyMac Mortgage Investment Trust Trading Down 0.7 %

PMT traded down $0.10 during trading on Thursday, hitting $13.63. 916,263 shares of the company's stock were exchanged, compared to its average volume of 686,015. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The stock has a 50 day moving average price of $14.03 and a 200 day moving average price of $14.31. The firm has a market cap of $1.18 billion, a P/E ratio of 9.08 and a beta of 1.50.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 11.74%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 106.67%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in PMT. Norges Bank acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at $9,781,000. International Assets Investment Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 1,307.8% in the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust's stock valued at $4,872,000 after acquiring an additional 302,760 shares in the last quarter. Jane Street Group LLC raised its holdings in PennyMac Mortgage Investment Trust by 124.7% in the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust's stock valued at $4,277,000 after acquiring an additional 161,723 shares in the last quarter. Advisors Preferred LLC acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at $2,105,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 173.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust's stock valued at $2,280,000 after acquiring an additional 98,500 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

(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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