PennyMac Mortgage Investment Trust (NYSE:PMT) Director Acquires $10,416.32 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch acquired 757 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $13.76 per share, with a total value of $10,416.32. Following the transaction, the director now owns 34,672 shares of the company’s stock, valued at $477,086.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT traded up $0.08 during mid-day trading on Tuesday, reaching $13.73. 505,521 shares of the company’s stock were exchanged, compared to its average volume of 743,964. The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The company has a 50-day simple moving average of $13.87 and a two-hundred day simple moving average of $14.10. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.15 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The firm had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. During the same quarter last year, the business posted $0.16 EPS. On average, sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.33 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, July 26th. Shareholders of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.66%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Analyst Upgrades and Downgrades

PMT has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. B. Riley reaffirmed a “buy” rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities increased their target price on shares of 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. Piper Sandler dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus price target of $14.93.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the stock. Roble Belko & Company Inc acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. National Bank of Canada FI boosted its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,603 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 251.8% in the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 5,015 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $149,000. Finally, Essex Financial Services Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $150,000. Institutional investors and hedge funds 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.