UBS Group Has Lowered Expectations for PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Price

PennyMac Mortgage Investment Trust (NYSE:PMT) had its price target cut by equities research analysts at UBS Group from $13.25 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target suggests a potential upside of 1.68% from the stock’s current price.

Separately, JMP Securities reissued a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT traded up $0.04 on Wednesday, hitting $12.79. 22,905 shares of the company were exchanged, compared to its average volume of 819,229. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a market cap of $1.11 billion, a P/E ratio of 9.61 and a beta of 1.17. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $14.05 and a two-hundred day moving average of $13.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the transaction, the director now owns 64,082 shares in the company, valued at approximately $929,189. This represents a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 18.2% in the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after purchasing an additional 77,955 shares in the last quarter. Norges Bank bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $5,212,000. Simplify Asset Management Inc. grew its stake in PennyMac Mortgage Investment Trust by 476.0% in the 4th quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust’s stock valued at $725,000 after buying an additional 47,600 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in PennyMac Mortgage Investment Trust by 5.1% in the 4th quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock valued at $6,252,000 after buying an additional 23,948 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PennyMac Mortgage Investment Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock valued at $19,142,000 after acquiring an additional 63,781 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.