PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Rating Reaffirmed by Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 price target on the real estate investment trust’s stock. Wedbush’s price objective would suggest a potential upside of 10.29% from the stock’s previous close. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.30 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.50 EPS and FY2026 earnings at $1.65 EPS.

Several other equities research analysts have also issued reports on PMT. JMP Securities lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods cut their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Piper Sandler lowered their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Trading Down 1.4 %

Shares of PMT opened at $13.60 on Thursday. PennyMac Mortgage Investment Trust has a twelve month low of $10.62 and a twelve month high of $15.89. The stock has a market cap of $1.18 billion, a PE ratio of 9.07 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average price is $14.04 and its 200-day moving average price is $13.96.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.86% and a net margin of 53.81%. The firm had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same period last year, the company posted $0.51 EPS. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now directly owns 49,114 shares of the company’s stock, valued at $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 5,015 shares during the period. Entropy Technologies LP purchased a new stake in PennyMac Mortgage Investment Trust during the 1st quarter valued at $149,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in PennyMac Mortgage Investment Trust in the 1st quarter worth $157,000. Allspring Global Investments Holdings LLC bought a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter worth $177,000. Finally, Quadrature Capital Ltd purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at about $234,000. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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.