Catherine A. Lynch Buys 2,878 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch acquired 2,878 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $12.15 per share, with a total value of $34,967.70. Following the acquisition, the director now owns 49,254 shares in the company, valued at $598,436.10. The trade was a 6.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PennyMac Mortgage Investment Trust Trading Up 0.9 %

PMT traded up $0.12 during trading on Friday, hitting $12.93. The company's stock had a trading volume of 750,271 shares, compared to its average volume of 823,308. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.72 and a beta of 1.17. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22. The stock's fifty day moving average price is $13.76 and its 200-day moving average price is $13.44. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The company had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same quarter in the previous year, the firm earned $0.39 EPS. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.37%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 172.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust's stock valued at $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Norges Bank bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $5,212,000. Simplify Asset Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 476.0% during the fourth quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust's stock valued at $725,000 after buying an additional 47,600 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 5.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust's stock valued at $6,252,000 after buying an additional 23,948 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 41.0% during the fourth quarter. Prudential Financial Inc. now owns 230,603 shares of the real estate investment trust's stock worth $2,903,000 after acquiring an additional 67,000 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PMT has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Jones Trading restated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Wells Fargo & Company cut their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday. UBS Group lowered their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, JMP Securities restated a "market outperform" rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.50.

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.