ValuEngine cut shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from a buy rating to a hold rating in a report issued on Monday, November 6th.
A number of other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an outperform rating to a market perform rating and reduced their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a sell rating to a hold rating in a research report on Thursday, October 5th. Finally, BidaskClub upgraded shares of PennyMac Mortgage Investment Trust from a hold rating to a buy rating in a research report on Saturday, August 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.50.
Shares of PennyMac Mortgage Investment Trust (NYSE PMT) traded down $0.02 during mid-day trading on Monday, hitting $15.90. The company’s stock had a trading volume of 333,847 shares, compared to its average volume of 627,317. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78. PennyMac Mortgage Investment Trust has a 12 month low of $14.87 and a 12 month high of $18.46. The stock has a market capitalization of $1,043.84, a price-to-earnings ratio of 11.21 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 13th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.88 annualized dividend and a dividend yield of 11.82%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 132.39%.
In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total value of $330,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 75,000 shares of company stock valued at $1,299,563 over the last 90 days. Insiders own 2.08% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in PennyMac Mortgage Investment Trust by 20,756.3% in the 3rd quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 6,642 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of PennyMac Mortgage Investment Trust by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $184,000. Jane Street Group LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $190,000. Finally, M&T Bank Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 4.8% during the 2nd quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares during the period. 62.80% of the stock is owned by hedge funds and other institutional investors.
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About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.
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