PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch Buys 715 Shares

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch bought 715 shares of the firm's stock in a transaction that occurred on Friday, April 26th. The stock was purchased at an average cost of $14.19 per share, with a total value of $10,145.85. Following the completion of the purchase, the director now directly owns 33,915 shares of the company's stock, valued at approximately $481,253.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT traded down $0.15 during midday trading on Tuesday, reaching $13.86. 607,750 shares of the stock were exchanged, compared to its average volume of 623,816. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.37. The company has a market cap of $1.20 billion, a P/E ratio of 9.24 and a beta of 1.48. The stock's 50 day simple moving average is $14.10 and its 200 day simple moving average is $14.02.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 106.67%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. B. Riley raised their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. JMP Securities reissued a "market outperform" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a "hold" rating and a $15.00 target price for the company. Finally, Wedbush reaffirmed a "neutral" rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.75.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in PennyMac Mortgage Investment Trust by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust's stock valued at $16,115,000 after purchasing an additional 78,311 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in PennyMac Mortgage Investment Trust by 2.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust's stock valued at $2,237,000 after purchasing an additional 4,041 shares in the last quarter. International Assets Investment Management LLC raised its stake in PennyMac Mortgage Investment Trust by 1,307.8% in the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust's stock valued at $4,872,000 after purchasing an additional 302,760 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in PennyMac Mortgage Investment Trust by 23.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,507,911 shares of the real estate investment trust's stock valued at $18,698,000 after purchasing an additional 284,200 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its stake in PennyMac Mortgage Investment Trust by 99.3% during the third quarter. Dark Forest Capital Management LP now owns 43,941 shares of the real estate investment trust's stock worth $545,000 after acquiring an additional 21,896 shares in the last quarter. Institutional investors and hedge funds 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.

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