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

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

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT traded up $0.06 during trading on Tuesday, reaching $12.39. 754,458 shares of the stock traded hands, compared to its average volume of 821,914. 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 price-to-earnings-growth ratio of 2.73 and a beta of 1.29. PennyMac Mortgage Investment Trust has a 52-week low of $11.60 and a 52-week high of $14.93. The company 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 posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, topping 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 firm had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date was Friday, October 10th. PennyMac Mortgage Investment Trust’s payout ratio is currently 175.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PMT. Boston Partners purchased a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at $14,807,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PennyMac Mortgage Investment Trust by 71.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust’s stock valued at $19,559,000 after acquiring an additional 557,389 shares during the period. Ieq Capital LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $7,644,000. Barclays PLC grew its stake in PennyMac Mortgage Investment Trust by 93.2% in the 3rd quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after acquiring an additional 478,947 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 41.8% during the third quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock valued at $16,418,000 after acquiring an additional 394,497 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

PMT has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday. Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. UBS Group upped their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company started coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $14.50 to $13.50 in a report on Friday, July 25th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.