PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $15.50 to $15.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 10.62% from the stock's previous close.
A number of other equities analysts have also recently weighed in on PMT. JMP Securities upped their price target on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Piper Sandler reduced their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a report on Wednesday. Wedbush reissued a "neutral" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Finally, B. Riley reissued a "buy" rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.93.
View Our Latest Analysis on PMT
PennyMac Mortgage Investment Trust Stock Performance
PennyMac Mortgage Investment Trust stock traded up $0.24 during trading hours on Thursday, hitting $13.56. 1,069,964 shares of the stock traded hands, compared to its average volume of 744,645. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. The firm's 50 day moving average price is $13.92 and its 200-day moving average price is $14.13. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.04 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.26%. During the same period last year, the firm earned $0.16 EPS. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.43 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in PMT. Norges Bank purchased a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $9,781,000. International Assets Investment Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 1,307.8% during the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust's stock worth $4,872,000 after purchasing an additional 302,760 shares in the last quarter. Jane Street Group LLC lifted its stake in PennyMac Mortgage Investment Trust by 124.7% during the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust's stock worth $4,277,000 after purchasing an additional 161,723 shares in the last quarter. Advisors Preferred LLC acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $2,105,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 173.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust's stock worth $2,280,000 after purchasing an additional 98,500 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
About PennyMac Mortgage Investment Trust
(Get Free Report)
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.
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