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 bought 2,878 shares of the business's stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the purchase, the director now owns 49,254 shares in the company, valued at approximately $598,436.10. The trade was a 6.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT traded up $0.12 during trading on Friday, hitting $12.93. The company had a trading volume of 750,271 shares, compared to its average volume of 823,424. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month 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 firm has a market capitalization of $1.12 billion, a P/E ratio of 9.72 and a beta of 1.17. The stock has a 50 day simple moving average of $13.76 and a 200 day simple moving average of $13.43.

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) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The firm had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

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

Wall Street Analyst Weigh In

PMT has been the subject of a number of research analyst reports. UBS Group reduced 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 research note on Wednesday, April 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a 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 for the company in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their target price on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $14.50.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently made changes to their positions in the business. Prevail Innovative Wealth Advisors LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $925,000. Nisa Investment Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 31.9% in the first quarter. Nisa Investment Advisors LLC now owns 50,351 shares of the real estate investment trust's stock worth $738,000 after buying an additional 12,169 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 13.2% during the first quarter. Penserra Capital Management LLC now owns 103,092 shares of the real estate investment trust's stock worth $1,510,000 after acquiring an additional 12,005 shares during the last quarter. Principal Financial Group Inc. grew its stake in PennyMac Mortgage Investment Trust by 2.5% during the first quarter. Principal Financial Group Inc. now owns 549,340 shares of the real estate investment trust's stock valued at $8,048,000 after acquiring an additional 13,441 shares in the last quarter. Finally, Motiv8 Investments LLC increased its holdings in PennyMac Mortgage Investment Trust by 13.1% in the 1st quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock valued at $169,000 after acquiring an additional 1,333 shares during the last quarter. 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.