Insider Buying: PennyMac Mortgage Investment Trust (NYSE:PMT) Director Acquires $12,625.50 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch acquired 950 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $13.29 per share, for a total transaction of $12,625.50. Following the completion of the transaction, the director now owns 36,794 shares in the company, valued at approximately $488,992.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

PennyMac Mortgage Investment Trust Stock Up 0.3 %

Shares of PennyMac Mortgage Investment Trust stock opened at $13.45 on Monday. The company has a 50-day simple moving average of $13.84 and a two-hundred day simple moving average of $14.03. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $1.17 billion, a PE ratio of 8.97 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). The business had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same period in the previous year, the business posted $0.16 EPS. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.90%. The ex-dividend date was Friday, July 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its position in PennyMac Mortgage Investment Trust by 45.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 37,021 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 11,501 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 1,307.8% during the 4th quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock valued at $4,872,000 after buying an additional 302,760 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 10.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 43,519 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 4,239 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth $649,000. Finally, Mackenzie Financial Corp purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PMT shares. Keefe, Bruyette & Woods reduced their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Piper Sandler reduced their target price on shares of 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. B. Riley reissued a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. JMP Securities boosted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.93.

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.