PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 12-Month Low – Here’s What Happened

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low during trading on Friday . The stock traded as low as $12.80 and last traded at $13.08, with a volume of 149522 shares trading hands. The stock had previously closed at $12.95.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

PennyMac Mortgage Investment Trust Stock Up 0.2 %

The company’s 50-day moving average is $13.52 and its 200 day moving average is $13.78. The company has a market capitalization of $1.13 billion, a PE ratio of 9.54 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly 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 company had revenue of $80.86 million for the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period in the previous year, the business earned $0.51 EPS. As a group, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.33%. The ex-dividend date of this dividend is Friday, December 27th. PennyMac Mortgage Investment Trust’s payout ratio is presently 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in PMT. Wilmington Savings Fund Society FSB purchased a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $28,000. Simplify Asset Management Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $143,000. Aigen Investment Management LP purchased a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $152,000. Allspring Global Investments Holdings LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $177,000. Finally, Caprock Group LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 9.3% in the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after buying an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.