PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch bought 949 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $12.54 per share, with a total value of $11,900.46. Following the completion of the transaction, the director now owns 38,581 shares in the company, valued at approximately $483,805.74. This trade represents a 2.52 % increase in their ownership of the stock. 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
Shares of NYSE:PMT traded down $0.11 during trading on Tuesday, reaching $12.79. The company had a trading volume of 529,364 shares, compared to its average volume of 706,271. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. The stock's fifty day moving average price is $12.99 and its 200 day moving average price is $13.56. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.40 and a beta of 1.50.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.51%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 117.65%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Wedbush reiterated a "neutral" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. JMP Securities reiterated a "market outperform" rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.
Get Our Latest Stock Report on PMT
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $262,000. Millennium Management LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 223.1% in the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust's stock valued at $3,198,000 after buying an additional 160,595 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in PennyMac Mortgage Investment Trust by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 43,720 shares of the real estate investment trust's stock worth $601,000 after acquiring an additional 1,827 shares during the period. Mackenzie Financial Corp raised its position in PennyMac Mortgage Investment Trust by 19.6% in the second quarter. Mackenzie Financial Corp now owns 22,853 shares of the real estate investment trust's stock worth $314,000 after acquiring an additional 3,751 shares in the last quarter. Finally, Truist Financial Corp acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $407,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.
PennyMac Mortgage Investment Trust Company Profile
(
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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.
Further Reading
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