Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) to post $115.40 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. The highest sales estimate is $121.00 million and the lowest is $109.80 million. PennyMac Mortgage Investment Trust reported sales of $121.57 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $424.00 million for the current financial year, with estimates ranging from $409.00 million to $439.00 million. For the next year, analysts expect that the firm will report sales of $483.35 million, with estimates ranging from $453.70 million to $513.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for PennyMac Mortgage Investment Trust.
Several analysts have issued reports on PMT shares. Jonestrading dropped their price target on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research note on Friday, May 6th. Credit Suisse Group dropped their price target on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. StockNews.com raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. JMP Securities dropped their price target on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 26th. Finally, TheStreet downgraded PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $18.72.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in PennyMac Mortgage Investment Trust by 8.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,379,006 shares of the real estate investment trust’s stock worth $23,291,000 after buying an additional 106,963 shares during the last quarter. Eaton Vance Management increased its position in PennyMac Mortgage Investment Trust by 14.3% during the first quarter. Eaton Vance Management now owns 14,215 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 1,783 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.6% during the first quarter. Evergreen Capital Management LLC now owns 358,754 shares of the real estate investment trust’s stock worth $6,059,000 after acquiring an additional 5,577 shares during the period. Family Management Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 29.9% during the first quarter. Family Management Corp now owns 31,933 shares of the real estate investment trust’s stock worth $539,000 after acquiring an additional 7,348 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $195,000. 70.77% of the stock is currently owned by hedge funds and other institutional investors.
PMT opened at $16.27 on Friday. The business’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $16.72. PennyMac Mortgage Investment Trust has a 1 year low of $14.61 and a 1 year high of $21.53. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -22.29 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.52 and a quick ratio of 0.52.
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.
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