PennyMac Mortgage Investment Trust (NYSE:PMT) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note released on Thursday morning,Benzinga reports. They currently have a $15.50 price objective on the real estate investment trust’s stock.

Separately, Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.20.

PennyMac Mortgage Investment Trust Trading Up 0.5 %

NYSE PMT opened at $12.62 on Thursday. The company’s fifty day moving average price is $13.00 and its two-hundred day moving average price is $13.58. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.28 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, December 27th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.68%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 117.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PMT. Mercer Global Advisors Inc. ADV bought a new position in shares of PennyMac Mortgage Investment Trust during the second quarter valued at approximately $262,000. Intech Investment Management LLC bought a new position in PennyMac Mortgage Investment Trust during the 2nd quarter worth $236,000. Public Sector Pension Investment Board increased its position in PennyMac Mortgage Investment Trust by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 191,069 shares of the real estate investment trust’s stock worth $2,627,000 after buying an additional 13,509 shares during the period. Caxton Associates LP bought a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $232,000. Finally, Deerfield Management Company L.P. Series C boosted its holdings in shares of PennyMac Mortgage Investment Trust by 25.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 50,505 shares of the real estate investment trust’s stock valued at $694,000 after acquiring an additional 10,100 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

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.