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

PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.69 and last traded at $9.7250, with a volume of 1722927 shares traded. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Piper Sandler reduced their target price on PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.80.

PennyMac Mortgage Investment Trust Stock Performance

The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.39. The company has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $11.55. The firm has a market cap of $848.02 million, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). The business had revenue of $233.25 million for the quarter, compared to analysts’ expectations of $92.92 million. PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.16 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 16.5%. The ex-dividend date is Thursday, July 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 139.13%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its stake in shares of 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 during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at about $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,815 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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.