PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Gap Up on Strong Earnings

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $12.89, but opened at $13.40. PennyMac Mortgage Investment Trust shares last traded at $13.44, with a volume of 126,615 shares traded.

The real estate investment trust reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 11.74%. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.

Wall Street Analyst Weigh In

PMT has been the subject of a number of recent research reports. Wedbush restated a "neutral" rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. JMP Securities reissued a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.20.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PMT. Geode Capital Management LLC boosted its holdings in PennyMac Mortgage Investment Trust by 1.6% in 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 buying an additional 31,479 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust's stock valued at $20,771,000 after acquiring an additional 18,368 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PennyMac Mortgage Investment Trust by 1.5% in the third 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. Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust's stock worth $8,103,000 after purchasing an additional 57,281 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 5.8% in the 4th quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust's stock worth $6,747,000 after purchasing an additional 29,550 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Trading Up 5.7 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a fifty day moving average of $12.97 and a 200 day moving average of $13.53. The company has a market capitalization of $1.18 billion, a PE ratio of 10.02 and a beta of 1.50.

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.