According to Zacks, “PennyMac Mortgage Investment Trust is a real estate investment trust. The Company operates as a specialty finance company that will invest primarily in residential mortgage loans and mortgage-related assets. The company seeks to acquire primarily troubled home mortgage loans and mortgage-backed securities from FDIC liquidations of failed banks, US Treasury Legacy Loans Program auctions, and direct acquisitions from mortgage and insurance companies and foreign banks. The Company’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. The Company focuses on investing in mortgage loans, a substantial portion of which may be distressed and acquired at discounts to their unpaid principal balances. PennyMac is managed by investment adviser PNMAC Capital Management and offers primary and special loan servicing through PennyMac Loan Services. “
A number of other equities analysts also recently commented on PMT. Wedbush reiterated a neutral rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, July 26th. Bank of America started coverage on PennyMac Mortgage Investment Trust in a research report on Monday, September 23rd. They set a buy rating and a $23.00 price objective on the stock. Finally, Deutsche Bank started coverage on PennyMac Mortgage Investment Trust in a research report on Friday, October 11th. They set a buy rating and a $24.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $23.14.
PennyMac Mortgage Investment Trust stock traded up $0.09 during trading on Friday, reaching $22.70. 816,404 shares of the company were exchanged, compared to its average volume of 824,944. PennyMac Mortgage Investment Trust has a 52-week low of $17.88 and a 52-week high of $23.35. The company has a market capitalization of $2.06 billion, a P/E ratio of 11.41, a PEG ratio of 1.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.56 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $22.51 and its two-hundred day simple moving average is $21.88.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.20. PennyMac Mortgage Investment Trust had a return on equity of 13.38% and a net margin of 50.13%. The firm had revenue of $130.76 million for the quarter, compared to the consensus estimate of $116.95 million. During the same quarter last year, the business posted $0.62 earnings per share. As a group, equities analysts forecast that PennyMac Mortgage Investment Trust will post 2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, October 14th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.88 annualized dividend and a yield of 8.28%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 94.47%.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in PennyMac Mortgage Investment Trust by 676.7% during the second quarter. JPMorgan Chase & Co. now owns 1,008,688 shares of the real estate investment trust’s stock worth $21,928,000 after acquiring an additional 878,819 shares during the last quarter. Citadel Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 38.3% during the second quarter. Citadel Advisors LLC now owns 447,983 shares of the real estate investment trust’s stock worth $9,779,000 after acquiring an additional 124,071 shares during the last quarter. Panagora Asset Management Inc. increased its stake in PennyMac Mortgage Investment Trust by 435.2% during the second quarter. Panagora Asset Management Inc. now owns 109,190 shares of the real estate investment trust’s stock worth $2,384,000 after acquiring an additional 88,790 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter worth $6,164,000. Finally, Kovack Advisors Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the third quarter worth $240,000. 71.45% of the stock is owned by institutional investors.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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