PennyMac Mortgage Investment Trust (NYSE:PMT) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note published on Thursday, Benzinga reports. Wedbush currently has a $15.00 price objective 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.

Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods cut their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Piper Sandler reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. B. Riley reaffirmed a “buy” rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Finally, JMP Securities boosted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Up 0.1 %

Shares of NYSE PMT traded up $0.02 during mid-day trading on Thursday, reaching $13.81. 227,172 shares of the company’s stock were exchanged, compared to its average volume of 730,224. PennyMac Mortgage Investment Trust has a twelve month low of $10.62 and a twelve month high of $15.89. 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 firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 9.20 and a beta of 1.51. The business has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $13.97.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS 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 company had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same period in the prior year, the firm posted $0.51 earnings per share. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.59%. The ex-dividend date is Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is 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 stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its position in PennyMac Mortgage Investment Trust by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock worth $601,000 after buying an additional 800 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 4.7% during the 2nd quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 1,144 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after purchasing an additional 1,179 shares during the period. ProShare Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 1,207 shares during the period. Finally, Cetera Investment Advisers raised its stake in PennyMac Mortgage Investment Trust by 2.2% in the second quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock valued at $992,000 after purchasing an additional 1,553 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

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.