PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 1-Year Low – Time to Sell?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.18 and last traded at $10.26, with a volume of 122424 shares changing hands. The stock had previously closed at $10.50.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PMT shares. Wells Fargo & Company reduced their target price on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Weiss Ratings lowered PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Piper Sandler reduced their target price on PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Finally, Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average price target of $12.80.

PennyMac Mortgage Investment Trust Stock Down 2.4%

The business has a fifty day moving average of $11.46 and a 200 day moving average of $12.21. The stock has a market cap of $893.80 million, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.51 and a beta of 1.21. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.39.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%.The firm had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 15.6%. The ex-dividend date was Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 139.13%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at about $26,000. Bessemer Group Inc. raised its holdings in PennyMac Mortgage Investment Trust by 142.1% during the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,285 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at about $33,000. GAMMA Investing LLC raised its holdings in PennyMac Mortgage Investment Trust by 102.8% during the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,395 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,815 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

About PennyMac Mortgage Investment Trust

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.