PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch bought 838 shares of the business's stock in a transaction on Friday, October 25th. The shares were acquired at an average price of $13.81 per share, for a total transaction of $11,572.78. Following the completion of the transaction, the director now owns 37,632 shares in the company, valued at approximately $519,697.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
PennyMac Mortgage Investment Trust Stock Up 0.4 %
NYSE:PMT opened at $13.72 on Wednesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 9.15 and a beta of 1.51. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $14.04 and a two-hundred day moving average price of $13.96. PennyMac Mortgage Investment Trust has a 1 year low of $12.35 and a 1 year high of $15.89.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.51 earnings per share. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.
PennyMac Mortgage Investment Trust Dividend Announcement
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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.66%. PennyMac Mortgage Investment Trust's payout ratio is 106.67%.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings 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 valued at $5,246,000 after purchasing an additional 346,358 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 781.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust's stock valued at $3,082,000 after acquiring an additional 198,688 shares in the last quarter. Jane Street Group LLC lifted its stake in PennyMac Mortgage Investment Trust by 124.7% in the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust's stock valued at $4,277,000 after acquiring an additional 161,723 shares in the last quarter. Millennium Management LLC boosted its position in PennyMac Mortgage Investment Trust by 223.1% during the 2nd quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust's stock worth $3,198,000 after acquiring an additional 160,595 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 34.4% during the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust's stock worth $8,554,000 after acquiring an additional 159,131 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PMT. Keefe, Bruyette & Woods cut their price objective 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. Piper Sandler reduced their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. JMP Securities upped their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a report on Friday, July 19th. Wedbush restated a "neutral" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Finally, B. Riley reaffirmed a "buy" rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.93.
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PennyMac Mortgage Investment Trust Company Profile
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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.
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