Catherine A. Lynch Purchases 950 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch purchased 950 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $13.29 per share, for a total transaction of $12,625.50. Following the acquisition, the director now owns 36,794 shares in the company, valued at approximately $488,992.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $13.45 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $1.17 billion, a P/E ratio of 8.97 and a beta of 1.51. The firm’s 50 day moving average price is $13.84 and its 200-day moving average price is $14.03. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The firm had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.90%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PMT. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Wedbush reiterated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. B. Riley restated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Piper Sandler decreased 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 report on Wednesday, July 24th. Finally, JMP Securities lifted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.93.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the business. Roble Belko & Company Inc acquired a new stake in PennyMac Mortgage Investment Trust during the 1st quarter worth $29,000. National Bank of Canada FI increased its position 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 worth $49,000 after purchasing an additional 1,603 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of 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 valued at $103,000 after purchasing an additional 5,015 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $149,000. Finally, Essex Financial Services Inc. purchased a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.