PennyMac Mortgage Investment Trust (NYSE: PMT – Get a rating) saw its price target lowered by Jonestrading research analysts from $18.50 to $18.00 in a research note released Friday to investors, Fly reports. Jonestrading’s price target would suggest a potential upside of 15.38% from the company’s current price.
PMT has been the subject of a number of other research reports. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a Thursday, April 7 research report. StockNews.com began covering PennyMac Mortgage Investment Trust in a report on Thursday, March 31. They issued a “sell” rating for the company. Piper Sandler cut her price target on PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating for the company in a Tuesday, April 5 report. BTIG Research upgraded PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a target price of $18.50 for the company in a report on Friday, January 7. Finally, Barclays reduced its price target on PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a Monday, January 10 report. One analyst rated the stock with a sell rating, four issued a hold rating and five issued a buy rating for the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.09.
Shares of NYSE:PMT traded down $0.14 during Friday’s trading, hitting $15.60. The stock recorded a trading volume of 12,960 shares, compared to an average volume of 1,300,513 shares. PennyMac Mortgage Investment Trust has a 12 month minimum of $14.61 and a 12 month maximum of $21.53. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt ratio of 1.11. The company has a market capitalization of $1.52 billion, a PE ratio of 60.00 and a beta of 1.11. The company’s fifty-day moving average is $16.02 and its 200-day moving average is $17.28.
PennyMac Mortgage Investment Trust (NYSE: PMT – Get a rating) last released its quarterly earnings data on Thursday, February 3. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analyst consensus estimates of $0.49 per ($0.77). PennyMac Mortgage Investment Trust had a net margin of 13.53% and a return on equity of 2.89%. During the same period a year earlier, the company posted EPS of $0.78. Equity research analysts expect PennyMac Mortgage Investment Trust to post EPS of 2.08 for the current fiscal year.
In other news from PennyMac Mortgage Investment Trust, Director Marianne Sullivan purchased 15,650 shares of the company in a trade on Thursday, February 24. The shares were acquired at an average cost of $15.02 per share, with a total value of $235,063.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, director Scott W. Carnahan sold 1,785 shares of the company in a trade dated Tuesday, February 22. The shares were sold at an average price of $15.71, for a total value of $28,042.35. Disclosure of this sale can be found here. 0.84% of the shares are currently held by insiders.
A number of large investors have recently bought and sold shares of the company. GraniteShares Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 9.7% during the first quarter. GraniteShares Advisors LLC now owns 43,036 shares of the real estate investment trust worth $726,000 after acquiring an additional 3,820 shares during the period. Advisor Group Holdings Inc. increased its stake in PennyMac Mortgage Investment Trust by 7.3% during the first quarter. Advisor Group Holdings Inc. now owns 43,710 shares of the real estate investment trust valued at $739,000 after acquiring 2,979 additional shares during the period. Victory Capital Management Inc. increased its stake in PennyMac Mortgage Investment Trust by 9.9% during the first quarter. Victory Capital Management Inc. now owns 94,588 shares of the real estate investment trust valued at $1,451,000 after acquiring an additional 8,535 shares during the period. Commonwealth Equity Services LLC increased its stake in PennyMac Mortgage Investment Trust by 29.4% during the first quarter. Commonwealth Equity Services LLC now owns 36,959 shares of the real estate investment trust valued at $624,000 after acquiring an additional 8,393 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter for a value of approximately $213,000. 70.77% of the shares are currently 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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