PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report ) fell before the market opened on Friday. The stock previously closed at $14.62 but opened at $14.31. PennyMac Mortgage Investment Trust shares last traded at $14.35 with trading volume of 36,893 shares.
Wall Street analysts predict growth
PMT has been mentioned in analyst reports recently: Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Piper Sandler reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust (up from the previous $14.50) in a research report on Thursday, May 9th. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market average” rating to an “outperform” rating and increased their price target from $15.00 to $15.50 in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market average” rating and $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, and three have assigned a buy rating to the company. According to MarketBeat, the company's current consensus rating is a “hold” with an average price target of $15.00.
View PMT's latest stock report
PennyMac Mortgage Mutual Fund shares rose 0.8%
The company's 50-day simple moving average is $14.00 and its 200-day simple moving average is $14.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.56 and a beta of 1.51.
PennyMac Mortgage Investment Trust announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date for this dividend is Friday, July 12th. On an annualized basis, this equates to a dividend of $1.60 and a yield of 11.16%. PennyMac Mortgage Investment Trust has a dividend payout ratio of 106.67%.
Institutional Investors Invest in PennyMac Mortgage Mutual Fund
Several large investors recently modified their holdings of the company's stock. Vaughn Nelson Investment Management increased its holdings in PennyMac Mortgage Investment Trust by 4.2% in the fourth quarter. Vaughn Nelson Investment Management now owns 1,571,966 shares of the real estate investment trust's stock valued at $23,501,000 after purchasing an additional 64,055 shares in the last quarter. Charles Schwab Investment Management increased its holdings in PennyMac Mortgage Investment Trust by 4.7% in the fourth quarter. Charles Schwab Investment Management now owns 1,360,869 shares of the real estate investment trust's stock valued at $20,345,000 after acquiring an additional 61,287 shares in the last quarter. Norges Bank acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter, valued at approximately $9.781 million. Mirae Asset Global Investments increased its holding in PennyMac Mortgage Investment Trust by 4.6% in the first quarter. Mirae Asset Global Investments now owns 643,252 shares of the real estate investment trust worth $9.443 million after acquiring an additional 28,121 shares in the last quarter. Finally, Van Eck Associates increased its holding in PennyMac Mortgage Investment Trust by 0.7% in the first quarter. Van Eck Associates now holds 463,002 shares of the real estate investment trust's stock valued at $6,797,000 after purchasing an additional 3,192 shares in the last quarter. Institutional investors own 67.38% of the company's shares.
PennyMac Mortgage Investment Trust Company Profile
(Get your free report)
PennyMac Mortgage Investment Trust, through its subsidiaries, invests primarily in mortgage-related assets in the United States. The company operates through the following segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Correspondent Production. The Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinated mortgage-backed securities (MBS), non-performing loans and real estate.
References
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