Insider Selling: PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Sells 2,444 Shares of Company Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $7.86, for a total transaction of $19,209.84. Following the completion of the transaction, the chief accounting officer owned 4,886 shares of the company’s stock, valued at $38,403.96. The trade was a 33.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT traded up $0.04 during trading hours on Friday, hitting $7.80. 2,205,366 shares of the stock were exchanged, compared to its average volume of 1,346,659. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $679.90 million, a PE ratio of 5.49, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20. The company’s fifty day simple moving average is $9.22 and its two-hundred day simple moving average is $10.31. PennyMac Mortgage Investment Trust has a 1-year low of $7.64 and a 1-year high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. The firm had revenue of ($46.00) million during the quarter, compared to the consensus estimate of $93.93 million. On average, sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.03 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 8th will be paid a $0.40 dividend. The ex-dividend date is Thursday, October 8th. This represents a $1.60 annualized dividend and a dividend yield of 20.5%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 112.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PMT. Bessemer Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 142.1% in the 1st 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 during the last quarter. Allworth Financial LP bought a new position in shares of PennyMac Mortgage Investment Trust during the second quarter worth about $33,000. Clearstead Advisors LLC raised its position in shares of 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 worth $35,000 after acquiring an additional 1,815 shares during the last quarter. Nykredit A S acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $37,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $38,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PMT. Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Tuesday, August 18th. UBS Group decreased their target price on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 21st. Piper Sandler lowered their target price on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company lowered their target price on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.50.

PennyMac Mortgage Investment Trust Company Profile