PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells $518,510.10 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now owns 49,114 shares in the company, valued at approximately $688,087.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Mortgage Investment Trust Stock Up 0.4 %

NYSE PMT traded up $0.05 on Thursday, reaching $13.92. The stock had a trading volume of 550,079 shares, compared to its average volume of 740,082. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The business has a 50 day moving average price of $13.88 and a 200 day moving average price of $14.00. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 9.28 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data 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 firm had revenue of $71.20 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.16 EPS. On average, analysts forecast that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.50%. The ex-dividend date of this dividend was Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is presently 106.67%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently bought and sold shares of the business. Roble Belko & Company Inc bought a new position in shares of PennyMac Mortgage Investment Trust in the first quarter valued at approximately $29,000. National Bank of Canada FI grew its stake in 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 buying an additional 1,603 shares during the last quarter. EntryPoint Capital LLC raised its holdings in 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 worth $103,000 after acquiring an additional 5,015 shares during the period. Entropy Technologies LP acquired a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth $149,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at about $157,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PMT has been the topic of several research analyst reports. Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Keefe, Bruyette & Woods lowered their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Piper Sandler lowered their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, JMP Securities increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research 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 MarketBeat, PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Company Profile

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.