PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Gap Down to $14.62

PennyMac Mortgage Investment Trust (NYSE:PMT) gapped down prior to trading on Friday . The stock had previously closed at $14.62, but opened at $14.31. PennyMac Mortgage Investment Trust shares last traded at $14.35, with a volume of 36,893 shares.

Wall Street Analyst Weigh In

PMT has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $15.50 in a research report on Wednesday. Finally, Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.00.

PennyMac Mortgage Investment Trust Trading Down 1.6 %

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.75 and a beta of 1.51. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. The business has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $14.19.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.13%. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in the company. Roble Belko & Company Inc acquired a new position in PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $29,000. National Bank of Canada FI raised its position in 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 buying an additional 1,603 shares during the period. EntryPoint Capital LLC raised its position in PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,015 shares during the period. Essex Financial Services Inc. acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $150,000. Finally, Entropy Technologies LP acquired a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $149,000. 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.