PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 1-Year Low – Should You Sell?

PennyMac Mortgage Investment Trust (NYSE:PMT)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.60 and last traded at $12.60, with a volume of 7407 shares changing hands. The stock had previously closed at $13.00.

Analysts Set New Price Targets

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

PennyMac Mortgage Investment Trust Price Performance

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.20 and a beta of 1.50. The company has a fifty day simple moving average of $13.41 and a two-hundred day simple moving average of $13.76. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The business had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.79%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently modified their holdings of PMT. K2 Principal Fund L.P. acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth approximately $5,841,000. International Assets Investment Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 1,607.2% during the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after buying an additional 346,358 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of PennyMac Mortgage Investment Trust by 105.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after buying an additional 237,210 shares during the period. Millennium Management LLC boosted its holdings in PennyMac Mortgage Investment Trust by 223.1% in the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock valued at $3,198,000 after acquiring an additional 160,595 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after acquiring an additional 159,131 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

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.