PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 52-Week Low - Here's What Happened

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $12.60 and last traded at $12.60, with a volume of 7407 shares changing hands. The stock had previously closed at $13.00.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $15.17.

PennyMac Mortgage Investment Trust Price Performance

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 has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.23 and a beta of 1.50. The stock's 50 day simple moving average is $13.38 and its 200-day simple moving average is $13.75.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $80.86 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.51 EPS. On average, analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.75%. The ex-dividend date of this dividend is Friday, December 27th. PennyMac Mortgage Investment Trust's dividend payout ratio is 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of institutional investors and hedge funds have recently modified their holdings of PMT. JPMorgan Chase & Co. raised its holdings in PennyMac Mortgage Investment Trust by 1.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust's stock worth $17,386,000 after acquiring an additional 18,122 shares during the period. Principal Financial Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 18.2% in the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust's stock valued at $7,221,000 after purchasing an additional 77,955 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth about $28,000. Geode Capital Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust's stock worth $28,838,000 after purchasing an additional 31,479 shares during the last quarter. Finally, Vestcor Inc boosted its stake in PennyMac Mortgage Investment Trust by 136.5% during the 3rd quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust's stock valued at $1,021,000 after purchasing an additional 41,300 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

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.