PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch Buys 1,470 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch bought 1,470 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was acquired at an average price of $12.67 per share, for a total transaction of $18,624.90. Following the transaction, the director owned 56,196 shares of the company’s stock, valued at approximately $712,003.32. The trade was a 2.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $12.61 on Wednesday. The stock has a market cap of $1.10 billion, a PE ratio of 13.85, a P/E/G ratio of 2.79 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.57 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $12.24 and its two-hundred day moving average price is $12.45. PennyMac Mortgage Investment Trust has a 12-month low of $11.60 and a 12-month high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.19. The company had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. As a group, analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend was Friday, October 10th. PennyMac Mortgage Investment Trust’s payout ratio is presently 175.82%.

Analysts Set New Price Targets

PMT has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $14.50 to $13.50 in a research report on Friday, July 25th. Wells Fargo & Company assumed coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price target on the stock. UBS Group boosted their price target on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average price target of $13.88.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in PMT. Boston Partners bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at approximately $14,807,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PennyMac Mortgage Investment Trust by 71.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust’s stock valued at $19,559,000 after purchasing an additional 557,389 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $7,644,000. Jane Street Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at $4,166,000. Finally, Nuveen LLC bought a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at $3,713,000. 67.38% of the stock is currently owned by institutional investors.

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.