PennyMac Mortgage Investment Trust (NYSE:PMT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $15.17.

Separately, Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $13.60 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. The business’s fifty day moving average price is $13.66 and its two-hundred day moving average price is $13.80. PennyMac Mortgage Investment Trust has a fifty-two week low of $12.81 and a fifty-two week high of $15.89. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.00 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter last year, the business earned $0.51 EPS. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.76%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 117.65%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust’s stock valued at $28,838,000 after buying an additional 31,479 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock valued at $20,771,000 after acquiring an additional 18,368 shares during the last quarter. Bank of New York Mellon Corp increased its position in PennyMac Mortgage Investment Trust by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock worth $10,895,000 after purchasing an additional 9,506 shares during the period. Van ECK Associates Corp raised its holdings in PennyMac Mortgage Investment Trust by 34.4% during the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after purchasing an additional 159,131 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after purchasing an additional 77,955 shares during the period. Institutional investors own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.