PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch Acquires 838 Shares

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine A. Lynch bought 838 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $13.81 per share, for a total transaction of $11,572.78. Following the completion of the acquisition, the director now owns 37,632 shares in the company, valued at $519,697.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT traded up $0.05 during trading on Tuesday, hitting $13.72. The company had a trading volume of 603,926 shares, compared to its average volume of 730,659. The stock has a 50 day simple moving average of $14.03 and a 200 day simple moving average of $13.96. The firm has a market capitalization of $1.19 billion, a P/E ratio of 9.12 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $12.35 and a 12 month high of $15.89. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.33 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.66%. PennyMac Mortgage Investment Trust's dividend payout ratio is 106.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PMT shares. JMP Securities raised their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Wedbush restated a "neutral" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. B. Riley restated a "buy" rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Piper Sandler dropped their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods dropped their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC raised its stake in PennyMac Mortgage Investment Trust by 124.7% in the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust's stock worth $4,277,000 after acquiring an additional 161,723 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 173.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust's stock worth $2,280,000 after purchasing an additional 98,500 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at approximately $302,000. Dana Investment Advisors Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 40.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust's stock valued at $5,884,000 after buying an additional 123,890 shares during the period. Finally, ProShare Advisors LLC raised its position in PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust's stock valued at $257,000 after purchasing an additional 1,207 shares during the period. Institutional investors own 67.38% of the company's stock.

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.

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