PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Average “Buy” Rating from Analysts
PennyMac Mortgage Investment Trust (NYSE: PMT – Get a rating) received an average “Buy” recommendation from the ten analysts who currently cover the company, Marketbeat.com reports. Three investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The average 1-year target price among brokers who have reported on the stock in the past year is $18.72.
A number of research companies have weighed in on PMT recently. JMP Securities lowered its price target on PennyMac Mortgage Investment Trust shares from $22.00 to $18.00 and set a “market outperformance” rating on the stock in a Tuesday, April 26 research report . Jonestrading lowered its price target on PennyMac Mortgage Investment Trust shares from $18.50 to $18.00 in a Friday, May 6 research report. TheStreet downgraded shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6. StockNews.com upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler lowered her price target on PennyMac Mortgage Investment Trust shares from $19.00 to $18.50 and set an “overweight” rating on the stock in a Tuesday, April 5 research report.
NYSE: PMT opened at $12.40 on Friday. The company’s fifty-day moving average price is $15.40 and its 200-day moving average price is $16.44. PennyMac Mortgage Investment Trust has a 1-year minimum of $11.64 and a 1-year maximum of $21.53. The company has a debt ratio of 1.38, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $1.21 billion, a price-earnings ratio of -16.99 and a beta of 1.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 28. Shareholders of record on Thursday, July 14 will receive a dividend of $0.47 per share. This represents an annualized dividend of $1.88 and a dividend yield of 15.16%. The ex-date of this dividend is Wednesday, July 13. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently -257.53%.
Several large investors have recently increased or reduced their stake in the company. Steward Partners Investment Advisory LLC increased its stake in PennyMac Mortgage Investment Trust by 1,116.7% in Q4. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust worth $63,000 after buying 3,350 additional shares in the last quarter. Selective Wealth Management Inc. acquired a new position in PennyMac Mortgage Investment Trust in Q1 worth approximately $62,000. Samalin Investment Counsel LLC increased its stake in PennyMac Mortgage Investment Trust by 119.9% in Q1. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust worth $88,000 after buying 2,834 additional shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 181.1% in Q1. Catalyst Capital Advisors LLC now owns 5,340 shares of the real estate investment trust worth $90,000 after purchasing 3,440 additional shares during the period. Finally, Capital Square LLC purchased a new stake in PennyMac Mortgage Investment Trust in Q4, valued at approximately $189,000. 70.77% of the shares are held by institutional investors and hedge funds.
About PennyMac Mortgage Investment Trust (Get a rating)
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The Company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate and subordinated non-agency bonds.
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