PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch Purchases 1,366 Shares

Key Points

• Catherine A. Lynch, a director at PennyMac Mortgage Investment Trust, purchased 1,366 shares of the company's stock at an average price of $12.41 per share, increasing her holdings to 51,888 shares valued at approximately $643,930.08.
• PennyMac Mortgage Investment Trust reported a loss of ($0.04) EPS for the last quarter, missing analysts' estimates significantly, while the company's revenue was $70.20 million, below expectations of $95.46 million.
• The company declared a quarterly dividend of $0.40 per share with an annualized yield of 13.09%, although its payout ratio stands at an unusually high 222.22%.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch acquired 1,366 shares of the business's stock in a transaction dated Friday, July 25th. The stock was purchased at an average price of $12.41 per share, with a total value of $16,952.06. Following the acquisition, the director owned 51,888 shares of the company's stock, valued at approximately $643,930.08. This trade represents a 2.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Mortgage Investment Trust Trading Down 1.9%

PMT stock traded down $0.23 during midday trading on Wednesday, hitting $12.03. 961,782 shares of the company's stock were exchanged, compared to its average volume of 833,182. The stock's fifty day moving average price is $12.61 and its 200-day moving average price is $13.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.55. The company has a market cap of $1.05 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The firm had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. Research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.30%. The ex-dividend date was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 222.22%.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG increased its position in PennyMac Mortgage Investment Trust by 44.5% during the fourth quarter. Deutsche Bank AG now owns 77,555 shares of the real estate investment trust's stock worth $976,000 after buying an additional 23,874 shares during the last quarter. Norges Bank bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $5,212,000. Raymond James Financial Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $1,300,000. Northern Trust Corp raised its position in PennyMac Mortgage Investment Trust by 28.6% during the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock valued at $14,420,000 after purchasing an additional 254,581 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in 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 valued at $2,903,000 after purchasing an additional 67,000 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PMT. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $14.50 to $13.50 in a research report on Friday, July 25th. UBS Group reduced their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Finally, 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 research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of "Hold" and a consensus target price of $14.00.

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.