PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Sells $22,900.28 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.37, for a total value of $22,900.28. Following the completion of the sale, the chief accounting officer directly owned 9,774 shares of the company’s stock, valued at approximately $91,582.38. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Trading Up 1.0%

PennyMac Mortgage Investment Trust stock traded up $0.09 during midday trading on Tuesday, hitting $9.53. 900,801 shares of the stock were exchanged, compared to its average volume of 1,289,524. The company has a fifty day simple moving average of $10.19 and a two-hundred day simple moving average of $11.33. PennyMac Mortgage Investment Trust has a 52 week low of $9.05 and a 52 week high of $13.81. The stock has a market capitalization of $831.36 million, a PE ratio of 6.71, a P/E/G ratio of 0.63 and a beta of 1.14. The company has a quick ratio of 1.39, a current ratio of 0.72 and a debt-to-equity ratio of 0.52.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. The firm had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.12 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Thursday, July 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date of this dividend was Thursday, July 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 112.68%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently made changes to their positions in PMT. Bessemer Group Inc. raised its holdings in shares of 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 worth $25,000 after acquiring an additional 1,285 shares during the period. Flagship Harbor Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth $33,000. Clearstead Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in PennyMac Mortgage Investment Trust by 200.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PMT shares. Piper Sandler lowered their price objective on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Wall Street Zen cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Weiss Ratings lowered PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Finally, Zacks Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.10.

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.