Today, Brokerages gives Consensus Recommendation of “Hold” to PennyMac Mortgage Investment Trust (PMT)

Today, Brokerages gives Consensus Recommendation of “Hold” to PennyMac Mortgage Investment Trust (PMT)

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been given an average rating of “Hold” by the eleven analysts that are currently covering the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.82.

PMT has been the topic of a number of research reports. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Wedbush initiated coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $16.75 price target on the stock. Nomura reaffirmed a “hold” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Friday, November 4th. Finally, JMP Securities reaffirmed a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research note on Sunday, November 6th.

In other news, Director Scott W. Carnahan purchased 3,341 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were purchased at an average cost of $15.22 per share, with a total value of $50,850.02. Following the completion of the transaction, the director now owns 49,203 shares of the company’s stock, valued at approximately $748,869.66. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors raised its stake in PennyMac Mortgage Investment Trust by 26.1% in the second quarter. BlackRock Fund Advisors now owns 3,231,164 shares of the company’s stock valued at $52,442,000 after buying an additional 669,508 shares during the period. Yorktown Management & Research Co Inc raised its stake in PennyMac Mortgage Investment Trust by 133.6% in the third quarter. Yorktown Management & Research Co Inc now owns 1,112,900 shares of the company’s stock valued at $17,339,000 after buying an additional 636,400 shares during the period. Emerald Acquisition Ltd. purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at about $3,948,000. Ares Management LLC purchased a new stake in PennyMac Mortgage Investment Trust during the third quarter valued at about $3,757,000. Finally, UBS Group AG raised its stake in PennyMac Mortgage Investment Trust by 21.1% in the third quarter. UBS Group AG now owns 1,084,215 shares of the company’s stock valued at $16,892,000 after buying an additional 188,691 shares during the period. 62.32% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded down 0.24% on Friday, reaching $16.29. 235,659 shares of the company were exchanged. PennyMac Mortgage Investment Trust has a 12-month low of $10.91 and a 12-month high of $16.93. The stock has a 50 day moving average of $15.35 and a 200 day moving average of $15.51. The firm has a market capitalization of $1.09 billion, a PE ratio of 19.44 and a beta of 0.62.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Stockholders of record on Friday, October 7th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.51%. The ex-dividend date was Wednesday, October 5th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 229.27%.

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