Insider Buying: PennyMac Mortgage Investment Trust (NYSE:PMT) Director Buys $19,211.24 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch purchased 1,451 shares of the stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $13.24 per share, for a total transaction of $19,211.24. Following the completion of the acquisition, the director owned 57,647 shares of the company’s stock, valued at approximately $763,246.28. This represents a 2.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $13.50 on Friday. The firm’s 50 day simple moving average is $12.94 and its 200 day simple moving average is $12.49. The firm has a market capitalization of $1.17 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72. PennyMac Mortgage Investment Trust has a 1-year low of $11.60 and a 1-year high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $96.96 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. As a group, analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date was Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 175.82%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter worth $25,000. Flagship Harbor Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at about $26,000. Allworth Financial LP grew its stake in shares of PennyMac Mortgage Investment Trust by 1,741.7% during the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,003 shares during the last quarter. Signaturefd LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 53.8% in the second 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 during the period. Finally, GAMMA Investing LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 102.8% in the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,395 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a research note on Thursday, December 18th. Citizens Jmp decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. UBS Group increased their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Citigroup restated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.