PennyMac Mortgage Investment Trust (NYSE:PMT) Director Purchases $33,932.46 in Stock

Key Points

• Catherine Lynch, a director at PennyMac Mortgage Investment Trust, purchased 2,823 shares of the company's stock, increasing her ownership by 5.44% through a transaction valued at approximately $33,932.46.
• The company reported an EPS loss of ($0.04) for the last quarter, falling short of analysts' expectations of $0.35 per share, with revenue of $70.20 million compared to the forecast of $95.46 million.
• PennyMac Mortgage Investment Trust announced a quarterly dividend of $0.40 per share, with an annualized yield of 13.3%, reflecting a high dividend payout ratio of 222.22%.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine Lynch acquired 2,823 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were purchased at an average price of $12.02 per share, for a total transaction of $33,932.46. Following the completion of the transaction, the director directly owned 54,711 shares in the company, valued at approximately $657,626.22. This trade represents a 5.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

PennyMac Mortgage Investment Trust Price Performance

PMT traded up $0.05 during trading on Wednesday, hitting $12.07. 485,691 shares of the company traded hands, compared to its average volume of 807,875. PennyMac Mortgage Investment Trust has a 1 year low of $11.70 and a 1 year high of $14.93. The company has a market cap of $1.05 billion, a PE ratio of 16.76, a P/E/G ratio of 2.92 and a beta of 1.30. The stock's 50-day simple moving average is $12.23 and its two-hundred day simple moving average is $12.80. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.82.

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

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 13.3%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $14.50 to $13.50 in a report on Friday, July 25th. Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Wells Fargo & Company assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They issued an "equal weight" rating and a $13.00 price target for the company. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.00.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at $25,000. GAMMA Investing LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 204.0% in the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,363 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1,741.7% in the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 2,003 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 53.8% in the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 870 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 196.5% in the 1st quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 2,162 shares during the last quarter. Hedge funds and other 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.

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