PennyMac Mortgage Investment Trust (NYSE:PMT) Director Acquires $11,572.78 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch bought 838 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $13.81 per share, for a total transaction of $11,572.78. Following the completion of the purchase, the director now directly owns 37,632 shares in the company, valued at approximately $519,697.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $13.80 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. The stock has a market cap of $1.20 billion, a PE ratio of 9.20 and a beta of 1.51. The company’s fifty day moving average is $14.04 and its 200 day moving average is $13.96. PennyMac Mortgage Investment Trust has a 52 week low of $12.48 and a 52 week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data 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). The company had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the firm posted $0.51 EPS. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.59%. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in PennyMac Mortgage Investment Trust by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock valued at $10,895,000 after buying an additional 9,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PennyMac Mortgage Investment Trust by 4.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,252 shares of the real estate investment trust’s stock valued at $9,443,000 after acquiring an additional 28,121 shares during the period. Van ECK Associates Corp raised its stake in shares of PennyMac Mortgage Investment Trust by 34.4% during the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after acquiring an additional 159,131 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 40.7% during the second quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock worth $5,884,000 after purchasing an additional 123,890 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 1,607.2% in the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after purchasing an additional 346,358 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. JMP Securities raised their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Wedbush restated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.93.

PennyMac Mortgage Investment Trust Company Profile

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.