Catherine Lynch Buys 2,823 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch purchased 2,823 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $12.02 per share, with a total value of $33,932.46. Following the completion of the transaction, the director owned 54,711 shares in the company, valued at approximately $657,626.22. This represents a 5.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

PennyMac Mortgage Investment Trust Trading Up 0.2%

PMT opened at $12.09 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.95 and a beta of 1.30. 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 has a 12 month low of $11.70 and a 12 month high of $14.93. The stock has a fifty day moving average price of $12.22 and a 200-day moving average price of $12.78.

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

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Friday, October 10th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 222.22%.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter valued at about $25,000. Allworth Financial LP boosted its stake in shares of PennyMac Mortgage Investment Trust by 1,741.7% in the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,003 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 204.0% in the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,363 shares during the last quarter. Signaturefd LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 870 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of PennyMac Mortgage Investment Trust by 196.5% in the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,162 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PMT shares. Zacks Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Monday. Wells Fargo & Company started coverage on PennyMac Mortgage Investment Trust in a research report on Monday, August 25th. They set an “equal weight” rating and a $13.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $14.50 to $13.50 in a research report on Friday, July 25th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.