PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch Acquires 949 Shares

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch purchased 949 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was acquired at an average price of $12.54 per share, with a total value of $11,900.46. Following the completion of the transaction, the director now owns 38,581 shares of the company’s stock, valued at $483,805.74. This represents a 2.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

PennyMac Mortgage Investment Trust Stock Up 1.5 %

NYSE PMT opened at $12.89 on Friday. The business has a fifty day moving average price of $12.98 and a two-hundred day moving average price of $13.54. The stock has a market capitalization of $1.12 billion, a PE ratio of 9.47 and a beta of 1.50. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were paid a $0.40 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.42%. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 822 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of PennyMac Mortgage Investment Trust during the third quarter worth $28,000. Principal Securities Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,288 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $39,000. Finally, Simplify Asset Management Inc. bought a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter worth $143,000. 67.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PMT has been the subject of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.20.

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.