PennyMac Mortgage Investment Trust (NYSE:PMT) Short Interest Down 16.2% in April

PennyMac Mortgage Investment Trust (NYSE:PMT) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 4,174,799 shares, a decline of 16.2% from the March 31st total of 4,982,586 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,305,841 shares, the short-interest ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PMT. Citizens Jmp reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Finally, Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $13.60.

PennyMac Mortgage Investment Trust Trading Up 0.2%

NYSE PMT opened at $12.20 on Friday. The company has a debt-to-equity ratio of 6.55, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company’s 50-day simple moving average is $11.87 and its two-hundred day simple moving average is $12.35. PennyMac Mortgage Investment Trust has a one year low of $11.15 and a one year high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. The business had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. Equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Thursday, April 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 13.1%. PennyMac Mortgage Investment Trust’s payout ratio is 163.27%.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 8.8% in the 3rd quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust’s stock valued at $27,028,000 after buying an additional 178,834 shares in the last quarter. Geode Capital Management LLC increased its stake in PennyMac Mortgage Investment Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,113,185 shares of the real estate investment trust’s stock valued at $26,524,000 after purchasing an additional 11,764 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PennyMac Mortgage Investment Trust by 7.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust’s stock worth $18,405,000 after buying an additional 98,701 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 41.8% in the third quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock worth $16,418,000 after buying an additional 394,497 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 93.2% during the third quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after buying an additional 478,947 shares during the period. Institutional investors own 67.38% of the company’s stock.

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.