PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells $210,685.00 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Doug Jones sold 14,530 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Mortgage Investment Trust Stock Down 2.2 %

PennyMac Mortgage Investment Trust stock traded down $0.33 during midday trading on Tuesday, hitting $14.31. 343,198 shares of the stock were exchanged, compared to its average volume of 736,294. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The company has a 50 day moving average price of $13.34 and a two-hundred day moving average price of $13.57. The firm has a market cap of $1.24 billion, a P/E ratio of 10.76 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

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PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is currently 120.30%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PMT. Rialto Wealth Management LLC acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth $25,000. Versant Capital Management Inc grew its stake in PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 822 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $28,000. Principal Securities Inc. increased its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 2,288 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $36,000. Institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.

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.