PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry Sells 2,444 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $9.27, for a total transaction of $22,655.88. Following the completion of the sale, the chief accounting officer directly owned 7,330 shares of the company’s stock, valued at approximately $67,949.10. This trade represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $9.51 on Thursday. The firm has a market cap of $828.84 million, a PE ratio of 6.69, a price-to-earnings-growth ratio of 0.69 and a beta of 1.14. The firm’s 50 day simple moving average is $9.85 and its 200-day simple moving average is $10.80. PennyMac Mortgage Investment Trust has a one year low of $9.05 and a one year high of $13.81. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.46 and a current ratio of 1.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. The company had revenue of ($46.00) million for the quarter, compared to the consensus estimate of $93.93 million. As a group, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.03 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 16.8%. The ex-dividend date is Thursday, October 8th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 112.68%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PMT shares. Deutsche Bank Aktiengesellschaft upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Saturday, August 15th. Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. UBS Group dropped their price objective on shares of PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 21st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 142.1% in the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,285 shares during the last quarter. Allworth Financial LP purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $33,000. Clearstead Advisors LLC boosted its stake in PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,815 shares in the last quarter. Finally, Nykredit A S acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

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.