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

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $12.80 and last traded at $13.08, with a volume of 149522 shares traded. The stock had previously closed at $12.95.

Analyst Ratings Changes

Separately, Wedbush reissued a "neutral" rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.17.

PennyMac Mortgage Investment Trust Stock Performance

The firm's fifty day simple moving average is $13.50 and its 200 day simple moving average is $13.78. 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 company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.54 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to analysts' expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.33%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently made changes to their positions in PMT. Principal Financial Group Inc. lifted its position in PennyMac Mortgage Investment Trust by 18.2% in the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust's stock worth $7,221,000 after buying an additional 77,955 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $28,000. Geode Capital Management LLC raised its stake 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 in the last quarter. Vestcor Inc lifted its holdings in shares of 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 buying an additional 41,300 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 218.7% during the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust's stock valued at $2,121,000 after buying an additional 102,067 shares during the last quarter. 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.