PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 52-Week Low – What’s Next?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares hit a new 52-week low during trading on Monday . The company traded as low as $10.00 and last traded at $10.0150, with a volume of 325606 shares traded. The stock had previously closed at $10.18.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler cut their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Wells Fargo & Company cut their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus target price of $12.80.

PennyMac Mortgage Investment Trust Price Performance

The company has a debt-to-equity ratio of 7.99, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $861.12 million, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. The business’s fifty day simple moving average is $11.25 and its 200 day simple moving average is $12.08.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The company had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. Research analysts predict that PennyMac Mortgage Investment Trust will post 1.21 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, April 9th. This represents a $1.60 annualized dividend and a yield of 16.2%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 139.13%.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in PennyMac Mortgage Investment Trust by 142.1% during the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,285 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $33,000. GAMMA Investing LLC raised its stake in PennyMac Mortgage Investment Trust by 102.8% during the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,395 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,815 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.