PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $15.11 and last traded at $15.15, with a volume of 626235 shares trading hands. The stock had previously closed at $15.22.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.33.
The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $1,017.34, a price-to-earnings ratio of 10.72 and a beta of 0.54.
PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.18). The firm had revenue of $75.80 million for the quarter, compared to the consensus estimate of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.44%. The business’s revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 13th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 12.52%. The ex-dividend date of this dividend was Thursday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 132.39%.
In related news, insider David Spector sold 18,750 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $17.40, for a total value of $326,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 75,000 shares of company stock worth $1,299,563 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PMT. Wedbush Securities Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 0.5% during the second quarter. Wedbush Securities Inc. now owns 39,140 shares of the real estate investment trust’s stock worth $716,000 after purchasing an additional 190 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in PennyMac Mortgage Investment Trust by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares in the last quarter. M&T Bank Corp increased its holdings in PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,153 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 533 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 6.0% in the second quarter. Principal Financial Group Inc. now owns 14,489 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 817 shares during the period. 63.35% of the stock is owned by institutional investors and hedge funds.
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PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.
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