Catherine A. Lynch Acquires 715 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch bought 715 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Friday, April 26th. The shares were acquired at an average price of $14.19 per share, with a total value of $10,145.85. Following the completion of the purchase, the director now owns 33,915 shares in the company, valued at approximately $481,253.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $14.34 on Thursday. The company has a market cap of $1.24 billion, a PE ratio of 9.56 and a beta of 1.47. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The firm has a 50-day simple moving average of $14.11 and a 200 day simple moving average of $14.03. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.37.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.16%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Analyst Upgrades and Downgrades

PMT has been the topic of a number of 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 note on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. B. Riley lifted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.75.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Roble Belko & Company Inc bought a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth $29,000. National Bank of Canada FI boosted its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,603 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of PennyMac Mortgage Investment Trust by 16.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,115 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $125,000. Finally, Essex Financial Services Inc. bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $150,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.