PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells $210,685.00 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 14,530 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Mortgage Investment Trust Stock Up 3.0 %

Shares of NYSE PMT opened at $14.76 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.28 billion, a PE ratio of 11.09 and a beta of 1.51. The stock’s fifty day simple moving average is $13.30 and its two-hundred day simple moving average is $13.57. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. As a group, analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 10.84%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $25,000. Versant Capital Management Inc lifted its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 822 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at $28,000. Principal Securities Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,288 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $36,000. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

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.