FY2024 EPS Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT) Increased by Wedbush

PennyMac Mortgage Investment Trust (NYSE:PMT) – Analysts at Wedbush raised their FY2024 earnings per share estimates for shares of PennyMac Mortgage Investment Trust in a research note issued to investors on Monday, April 29th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will post earnings per share of $1.40 for the year, up from their prior forecast of $1.35. Wedbush currently has a “Neutral” rating and a $15.00 price target on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.35 per share. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.32 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.37 EPS.

A number of other equities analysts also recently commented on the stock. B. Riley raised their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $14.75.

PennyMac Mortgage Investment Trust Trading Down 0.6 %

Shares of NYSE:PMT opened at $14.02 on Tuesday. The firm has a fifty day moving average price of $14.10 and a 200 day moving average price of $14.01. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $1.22 billion, a PE ratio of 9.34 and a beta of 1.48.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.42%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Insiders Place Their Bets

In other news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in PMT. Roble Belko & Company Inc bought a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $29,000. National Bank of Canada FI raised its stake in shares of PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,603 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares during the period. Essex Financial Services Inc. bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $150,000. Finally, Oak Thistle LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth $125,000. 67.38% of the stock is owned by institutional investors.

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.