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

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $15.50 price objective on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 22.58% from the stock’s previous close.

Separately, Wedbush restated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT traded up $0.05 on Thursday, hitting $12.65. The company’s stock had a trading volume of 46,118 shares, compared to its average volume of 664,781. The company has a 50 day moving average price of $13.02 and a 200 day moving average price of $13.59. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a market capitalization of $1.10 billion, a PE ratio of 9.30 and a beta of 1.50. 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 (NYSE:PMT) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the previous year, the company posted $0.51 EPS. On average, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in shares of PennyMac Mortgage Investment Trust by 5.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 73,992 shares of the real estate investment trust’s stock worth $932,000 after purchasing an additional 3,892 shares during the period. Inspire Investing LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 10.8% in the fourth quarter. Inspire Investing LLC now owns 31,820 shares of the real estate investment trust’s stock valued at $401,000 after purchasing an additional 3,096 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 822 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of PennyMac Mortgage Investment Trust by 1.5% during the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock worth $17,386,000 after buying an additional 18,122 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings 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 valued at $7,221,000 after purchasing an additional 77,955 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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.