Catherine Lynch Purchases 1,470 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch acquired 1,470 shares of the business’s stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $12.67 per share, for a total transaction of $18,624.90. Following the acquisition, the director directly owned 56,196 shares in the company, valued at $712,003.32. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $12.31 on Thursday. 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 firm has a market cap of $1.07 billion, a P/E ratio of 13.53, a P/E/G ratio of 2.79 and a beta of 1.29. PennyMac Mortgage Investment Trust has a 1-year low of $11.60 and a 1-year high of $14.93. The firm has a fifty day moving average of $12.24 and a two-hundred day moving average of $12.45.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.19. The firm had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.91 million. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%. As a group, 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 declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 13.0%. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in PennyMac Mortgage Investment Trust by 3.3% in the third quarter. Amalgamated Bank now owns 25,689 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 831 shares during the period. Signaturefd LLC raised its position in shares of PennyMac Mortgage Investment Trust by 53.8% during the 2nd 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 in the last quarter. CWM LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 57.7% in the 3rd 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 period. Maridea Wealth Management LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 2.7% in the second quarter. Maridea Wealth Management LLC now owns 41,578 shares of the real estate investment trust’s stock valued at $535,000 after acquiring an additional 1,085 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 10.0% in the second quarter. J.W. Cole Advisors Inc. now owns 14,540 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,316 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PMT. Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $14.50 to $13.50 in a research note on Friday, July 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, October 8th. 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 target on the stock. UBS Group boosted their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.88.

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.