PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 52-Week Low – Here’s Why

PennyMac Mortgage Investment Trust (NYSE:PMT)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $12.60 and last traded at $12.60, with a volume of 7407 shares. The stock had previously closed at $13.00.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.17.

PennyMac Mortgage Investment Trust Price Performance

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’s fifty day moving average price is $13.41 and its 200-day moving average price is $13.76. The firm has a market cap of $1.09 billion, a PE ratio of 9.20 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period last year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.79%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PMT. Louisiana State Employees Retirement System grew its stake in PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after acquiring an additional 800 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 5.0% in the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 1,093 shares during the last quarter. Inspire Investing LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 4.7% during the 2nd quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 1,144 shares in the last quarter. Caprock Group LLC raised its position in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of PennyMac Mortgage Investment Trust by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock worth $992,000 after purchasing an additional 1,553 shares during the last quarter. Institutional investors and hedge funds 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.