Shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) have earned an average recommendation of "Moderate Buy" from the ten analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.91.

A number of brokerages have commented on PMT. StockNews.com lowered PennyMac Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, June 28th. B. Riley dropped their price target on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, July 1st. Piper Sandler lowered their price objective on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 28th. Finally, Credit Suisse Group reduced their price objective on PennyMac Mortgage Investment Trust to $16.00 in a research note on Monday, August 22nd.

Insider Activity at PennyMac Mortgage Investment Trust

In related news, CEO David Spector acquired 20,000 shares of the firm's stock in a transaction on Thursday, September 8th. The stock was purchased at an average cost of $13.71 per share, with a total value of $274,200.00. Following the acquisition, the chief executive officer now owns 232,574 shares of the company's stock, valued at approximately $3,188,589.54. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust Stock Down 5.7 %

Shares of NYSE:PMT opened at $12.96 on Tuesday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.71 and a beta of 1.16. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $14.83 and a two-hundred day moving average of $15.17. PennyMac Mortgage Investment Trust has a 52-week low of $11.64 and a 52-week high of $20.72.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 14.51%. The ex-dividend date is Thursday, October 13th. PennyMac Mortgage Investment Trust's payout ratio is -97.41%.

About PennyMac Mortgage Investment Trust

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

Further Reading

• Get a free copy of the StockNews.com research report on PennyMac Mortgage Investment Trust (PMT)
• MO Money: Why Altria Group Stock is Rallying
• Is the Market Overreacting with Shopify Stock?
• Fed Raises Rates: 3 Stocks to Watch Newmont Mining, Walmart, AMC
• Three Consumer Stocks That Could Outperform In Q4
• Comcast is an Asset Bonanza Priced Cheap

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.