PennyMac Mortgage Investment Trust (PMT) Stock Rating Lowered by BidaskClub

Paterniano Del Favero
Agosto 13, 2017

The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by $0.05. Equities research analysts expect that PennyMac Mortgage Investment Trust will post $1.68 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MITT. Renaissance Technologies LLC purchased a new position in shares of AG Mortgage Investment Trust during the fourth quarter valued at approximately $2,639,000. The firm owned 47,181 shares of the real estate investment trust's stock after buying an additional 1,389 shares during the period. Metropolitan Life Ins Co New York reported 21,004 shares. Vanguard Group Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 0.9% in the second quarter. NY now owns 47,181 shares of the real estate investment trust's stock valued at $837,000 after buying an additional 1,389 shares during the period. Citadel Advisors LLC raised its stake in AG Mortgage Investment Trust by 290.3% in the first quarter. Teachers Advisors LLC now owns 117,391 shares of the real estate investment trust's stock valued at $2,084,000 after buying an additional 1,492 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the first quarter worth approximately $104,000. AG Mortgage Investment Trust, Inc. It is negative, as 8 investors sold AG Mortgage Investment Trust Inc shares while 35 reduced holdings. The Company's investment portfolio includes residential mortgage loans, including second mortgages and loans sourced from distressed markets, non-agency residential mortgage-backed securities (RMBS), multi-family commercial mortgage-backed securities, preferred equity and joint venture equity investments in, and mezzanine loans to, owners of multi-family properties, equity and debt securities issued by entities that invest in residential and commercial real estate and agency RMBS. Wunderlich increased their price objective on AG Mortgage Investment Trust from $17.50 to $18.50 and gave the company a hold rating in a research report on Monday, May 8th. Moreover, Kazazian Asset Management Llc has 2.72% invested in the company for 119,089 shares. The stock's 50-day moving average price is $18.55 and its 200 day moving average price is $18.25. The firm has a market capitalization of $538.19 million, a P/E ratio of 5.97 and a beta of 0.94.

AG Mortgage Investment Trust, Inc. has a 12-month low of $14.61 and a 12-month high of $19.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, August 3rd. During the same quarter in the prior year, the business earned ($0.08) earnings per share. AG Mortgage Investment Trust Inc (NYSE:MITT) has risen 37.46% since August 11, 2016 and is uptrending. The firm had revenue of $15.71 million for the quarter, compared to analyst estimates of $17.42 million. The business's revenue was down 5.7% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Millennium Ltd invested in 0% or 76,103 shares. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $1.90 annualized dividend and a yield of 9.82%. New York Mortgage Trust's dividend payout ratio is now 156.87%.

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Other analysts also recently issued research reports about the stock. Credit Suisse Group restated a "hold" rating and set a $18.00 target price on shares of AG Mortgage Investment Trust in a research report on Thursday. Keefe, Bruyette & Woods reissued a "buy" rating and issued a $18.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, April 19th. BidaskClub lowered shares of PennyMac Mortgage Investment Trust from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 16th. The stock now has an average rating of "Hold" and a consensus target price of $17.46.

In related news, CFO Andrew S. Chang sold 1,937 shares of the company's stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $17.64, for a total value of $34,168.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 8,235 shares of the firm's stock in a transaction on Monday, June 5th. Over the last three months, insiders have sold 12,626 shares of company stock valued at $222,229. The disclosure for this sale can be found here.

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