PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at B. Riley in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $16.00 price target on the real estate investment trust's stock. B. Riley's price objective suggests a potential upside of 20.12% from the stock's previous close.
Other analysts have also recently issued reports about the company. JMP Securities upped their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a report on Friday, July 19th. Wedbush reaffirmed a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $15.00 to $15.50 in a research note on Wednesday, July 10th. Finally, Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $15.00.
View Our Latest Analysis on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Trading Down 7.9 %
NYSE:PMT traded down $1.15 during trading hours on Wednesday, hitting $13.32. The company had a trading volume of 2,823,288 shares, compared to its average volume of 742,336. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average of $13.99 and a 200 day moving average of $14.14. The company has a market cap of $1.16 billion, a P/E ratio of 9.02 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 earnings results 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 analysts' expectations of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 45.19% and a return on equity of 13.25%. During the same quarter in the previous year, the company earned $0.16 earnings per share. Sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.43 earnings per share for the current year.
Institutional Investors Weigh In On PennyMac Mortgage Investment Trust
Several large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System increased its holdings in PennyMac Mortgage Investment Trust by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust's stock worth $601,000 after purchasing an additional 800 shares during the period. QRG Capital Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth about $302,000. Jane Street Group LLC increased its holdings in PennyMac Mortgage Investment Trust by 124.7% during the 1st 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 during the period. EntryPoint Capital LLC increased its holdings in PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 5,015 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 173.4% during the 1st 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 during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.
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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