PennyMac Mortgage Investment Trust (PMT) Scheduled to Post Earnings on Wednesday

PennyMac Mortgage Investment Trust (NYSE:PMT) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.32 per share for the quarter.

PennyMac Mortgage Investment Trust Stock Up 0.7 %

Shares of PennyMac Mortgage Investment Trust stock traded up $0.09 during trading on Thursday, reaching $13.32. The company had a trading volume of 318,035 shares, compared to its average volume of 615,696. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 8.29 and a beta of 1.48. The firm’s fifty day moving average is $14.06 and its 200-day moving average is $13.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.28. 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.40 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.01%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 99.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PMT shares. JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday. B. Riley upped 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. Finally, 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 on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.58.

Insider Activity at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PMT. Norges Bank bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $10,708,000. First Trust Advisors LP grew its position in PennyMac Mortgage Investment Trust by 546.1% in the 4th quarter. First Trust Advisors LP now owns 615,614 shares of the real estate investment trust’s stock worth $9,203,000 after purchasing an additional 520,338 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PennyMac Mortgage Investment Trust by 11.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock worth $63,746,000 after purchasing an additional 460,177 shares during the last quarter. JPMorgan Chase & Co. grew its position in PennyMac Mortgage Investment Trust by 55.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,103,922 shares of the real estate investment trust’s stock worth $13,611,000 after purchasing an additional 395,970 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 5.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,688,236 shares of the real estate investment trust’s stock worth $58,088,000 after acquiring an additional 227,513 shares during the period. Institutional investors own 67.38% of the company’s stock.

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.