PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch purchased 2,878 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the acquisition, the director now owns 49,254 shares in the company, valued at $598,436.10. This represents a 6.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
PennyMac Mortgage Investment Trust Stock Up 3.4 %
Shares of NYSE PMT opened at $12.62 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The firm's 50-day moving average price is $13.86 and its 200-day moving average price is $13.46. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.49 and a beta of 1.17.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.39). The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same period in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.
PennyMac Mortgage Investment Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 12.68%. PennyMac Mortgage Investment Trust's payout ratio is presently 172.04%.
Institutional Trading of PennyMac Mortgage Investment Trust
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in PennyMac Mortgage Investment Trust by 167.5% during the 4th quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock valued at $27,369,000 after buying an additional 1,361,282 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in PennyMac Mortgage Investment Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock valued at $19,142,000 after buying an additional 63,781 shares during the period. JPMorgan Chase & Co. raised its holdings in PennyMac Mortgage Investment Trust by 1.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust's stock valued at $17,386,000 after buying an additional 18,122 shares during the period. Northern Trust Corp raised its holdings in PennyMac Mortgage Investment Trust by 28.6% during the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock valued at $14,420,000 after buying an additional 254,581 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PennyMac Mortgage Investment Trust by 9.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,712 shares of the real estate investment trust's stock valued at $9,791,000 after buying an additional 66,371 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on PMT shares. JMP Securities reaffirmed a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a report on Thursday, April 24th. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Finally, UBS Group cut their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.75.
Read Our Latest Stock Analysis on PMT
About PennyMac Mortgage Investment Trust
(
Get Free Report)
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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