Short Interest in PennyMac Mortgage Investment Trust (NYSE:PMT) Decreases By 16.2%

PennyMac Mortgage Investment Trust (NYSE:PMT) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totaling 4,174,799 shares, a decrease of 16.2% from the March 31st total of 4,982,586 shares. Approximately 4.8% of the company’s stock are sold short. Based on an average trading volume of 1,305,841 shares, the short-interest ratio is currently 3.2 days.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.33 on Friday. The company has a debt-to-equity ratio of 6.55, a current ratio of 1.12 and a quick ratio of 1.12. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.15 and a fifty-two week high of $13.81. The stock’s 50-day moving average is $11.87 and its two-hundred day moving average is $12.36. The firm has a market cap of $1.08 billion, a P/E ratio of 12.59, a PEG ratio of 0.60 and a beta of 1.19.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $96.96 million. Analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 163.27%.

Analyst Ratings Changes

PMT has been the subject of several research analyst reports. Citizens Jmp reduced their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, January 22nd. Piper Sandler reduced their price objective on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Citigroup reissued an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.60.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $33,000. GAMMA Investing LLC increased its position in PennyMac Mortgage Investment Trust by 102.8% in the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 shares during the last quarter. Clearstead Advisors LLC increased its position in PennyMac Mortgage Investment Trust by 184.3% in the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,815 shares during the last quarter. Finally, CWM LLC increased its position in PennyMac Mortgage Investment Trust by 57.7% in the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,077 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.