PennyMac Mortgage Investment Trust’s (PMT) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $15.00 target price on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.30 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.65 EPS.

A number of other equities research analysts also recently weighed in on PMT. Keefe, Bruyette & Woods lowered their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Finally, JMP Securities boosted their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.60 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.07 and a beta of 1.51. The stock has a 50 day moving average of $14.04 and a 200 day moving average of $13.96. PennyMac Mortgage Investment Trust has a 12 month low of $10.62 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.86%. The firm had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same period last year, the company posted $0.51 earnings per share. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.76%. The ex-dividend date was Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC grew its position in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 5,015 shares during the period. Entropy Technologies LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at about $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at about $157,000. Allspring Global Investments Holdings LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at approximately $177,000. Finally, Quadrature Capital Ltd acquired a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $234,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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.