Doug Jones Sells 14,530 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 14,530 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT opened at $14.76 on Friday. The stock has a 50 day moving average price of $13.30 and a 200 day moving average price of $13.57. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $1.28 billion, a PE ratio of 11.09 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. Analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 10.84%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 120.30%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.20.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 822 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in PennyMac Mortgage Investment Trust in the third quarter valued at approximately $28,000. Principal Securities Inc. raised its stake in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,288 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $36,000. Institutional investors own 67.38% of the company’s stock.

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.