PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect PennyMac Mortgage Investment Trust to post earnings of $0.32 per share for the quarter. Persons that wish to register for the company's earnings conference call can do so using this link.
PennyMac Mortgage Investment Trust Trading Up 0.3 %
Shares of NYSE:PMT traded up $0.04 during midday trading on Thursday, reaching $13.28. 640,904 shares of the company's stock were exchanged, compared to its average volume of 620,115. The firm's 50 day simple moving average is $14.06 and its two-hundred day simple moving average is $13.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 8.25 and a beta of 1.48. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.05%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 99.38%.
Analyst Upgrades and Downgrades
PMT has been the subject of a number of research analyst reports. B. Riley raised their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a "hold" rating and a $15.00 target price for the company. Finally, JMP Securities restated a "market outperform" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of "Hold" and an average target price of $14.58.
Check Out Our Latest Research Report on PMT
Insider Activity
In other news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company's stock.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
Several hedge funds and other institutional investors have recently made changes to their positions in PMT. Almitas Capital LLC purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $28,000. LM Advisors LLC purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $36,000. Federated Hermes Inc. lifted its stake in PennyMac Mortgage Investment Trust by 54.9% during the third quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 1,291 shares during the last quarter. Tower Research Capital LLC TRC increased its position in PennyMac Mortgage Investment Trust by 53.2% during the first quarter. Tower Research Capital LLC TRC now owns 5,650 shares of the real estate investment trust's stock worth $70,000 after buying an additional 1,961 shares during the period. Finally, State of Wyoming increased its position in PennyMac Mortgage Investment Trust by 294.7% during the fourth quarter. State of Wyoming now owns 6,536 shares of the real estate investment trust's stock worth $81,000 after buying an additional 4,880 shares during the period. Hedge funds and other institutional investors own 67.38% of the company's stock.
About PennyMac Mortgage Investment Trust
(
Get Free Report)
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.
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