PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 12-Month Low – Here’s Why

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $11.77 and last traded at $12.01, with a volume of 1064797 shares changing hands. The stock had previously closed at $12.11.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Price Performance

The firm has a 50-day simple moving average of $13.10 and a two-hundred day simple moving average of $13.64. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.21 and a beta of 1.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 1.26 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, January 24th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 annualized dividend and a yield of 12.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several large investors have recently bought and sold shares of PMT. Versant Capital Management Inc boosted its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 822 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth $28,000. Simplify Asset Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth $143,000. Aigen Investment Management LP purchased a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth $152,000. Finally, Caprock Group LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 1,156 shares during the last quarter. Hedge funds and other 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.