Catherine A. Lynch Acquires 838 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch acquired 838 shares of PennyMac Mortgage Investment Trust stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $13.81 per share, with a total value of $11,572.78. Following the completion of the transaction, the director now directly owns 37,632 shares in the company, valued at $519,697.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PennyMac Mortgage Investment Trust Stock Up 0.6 %

Shares of NYSE PMT opened at $13.80 on Thursday. The business’s fifty day moving average price is $14.04 and its 200-day moving average price is $13.96. PennyMac Mortgage Investment Trust has a one year low of $12.48 and a one year high of $15.89. The stock has a market capitalization of $1.20 billion, a PE ratio of 9.20 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.33.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business 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 last year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 11.59%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 106.67%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their target price 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. Wedbush restated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Finally, JMP Securities raised 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 report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.93.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PMT. Louisiana State Employees Retirement System grew its position in shares of PennyMac Mortgage Investment Trust by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 800 shares in the last quarter. QRG Capital Management Inc. boosted its stake in PennyMac Mortgage Investment Trust by 5.0% in the 3rd quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 1,093 shares during the period. Inspire Investing LLC grew its holdings in PennyMac Mortgage Investment Trust by 4.7% during the 2nd quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock valued at $352,000 after buying an additional 1,144 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of PennyMac Mortgage Investment Trust by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock valued at $1,113,000 after buying an additional 1,179 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,207 shares in the last quarter. 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.