PennyMac Mortgage Investment Trust (NYSE:PMT) CEO David Spector Acquires 10,000 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CEO David Spector purchased 10,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the purchase, the chief executive officer directly owned 357,794 shares in the company, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Mortgage Investment Trust Stock Up 0.4%

PMT stock opened at $12.39 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.57 and a quick ratio of 0.80. The stock has a market capitalization of $1.08 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.73 and a beta of 1.29. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.60 and a fifty-two week high of $14.93. The business has a 50-day moving average of $12.22 and a 200-day moving average of $12.40.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.The business had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. On average, 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 firm also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 12.9%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 175.82%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Large investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont bought a new position in PennyMac Mortgage Investment Trust during the second quarter worth $25,000. Allworth Financial LP raised its holdings in 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 period. Signaturefd LLC lifted its position in PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 870 shares during the last quarter. CWM LLC lifted its position in PennyMac Mortgage Investment Trust by 57.7% during the third quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position 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 valued at $48,000 after purchasing an additional 2,162 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PMT. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.50 to $13.50 in a research report on Friday, July 25th. UBS Group raised their price target on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Friday, October 24th. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company assumed coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They issued an “equal weight” rating and a $13.00 price objective for the company. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.88.

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.