PennyMac Mortgage Investment Trust (NYSE:PMT) Director Purchases $11,900.46 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch acquired 949 shares of the stock in a transaction dated Friday, January 24th. The stock was acquired at an average price of $12.54 per share, for a total transaction of $11,900.46. Following the completion of the acquisition, the director now directly owns 38,581 shares of the company’s stock, valued at $483,805.74. The trade was a 2.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $12.89 on Friday. The company has a market cap of $1.12 billion, a PE ratio of 9.47 and a beta of 1.50. The firm has a 50-day moving average of $12.98 and a 200-day moving average of $13.54. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, January 30th. 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%. As a group, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.42%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust’s payout ratio is presently 117.65%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PMT shares. JMP Securities reiterated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Wedbush reiterated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently added to or reduced their stakes in PMT. Versant Capital Management Inc boosted its position in PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 822 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth about $28,000. Principal Securities Inc. grew its stake in PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,288 shares during the last quarter. Allworth Financial LP bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $39,000. Finally, Simplify Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the third quarter worth approximately $143,000. Institutional investors own 67.38% of the company’s stock.

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.