Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $14.92.
A number of equities analysts have recently issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $15.00 target price (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th. Wedbush reaffirmed a "neutral" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th.
View Our Latest Analysis on PennyMac Mortgage Investment Trust
Institutional Investors Weigh In On PennyMac Mortgage Investment Trust
Several hedge funds have recently made changes to their positions in PMT. Norges Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $9,781,000. International Assets Investment Management LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1,307.8% during the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust's stock worth $4,872,000 after purchasing an additional 302,760 shares during the last quarter. Jane Street Group LLC boosted 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 during the last quarter. Advisors Preferred LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $2,105,000. Finally, O Shaughnessy Asset Management LLC boosted 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 during the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Stock Performance
Shares of PMT stock traded down $0.09 during trading hours on Thursday, reaching $13.63. 916,263 shares of the company's stock were exchanged, compared to its average volume of 686,015. The company has a market cap of $1.18 billion, a P/E ratio of 9.13 and a beta of 1.50. The company's 50 day moving average is $14.04 and its two-hundred day moving average is $14.31. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34.
PennyMac Mortgage Investment Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.74%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 106.67%.
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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