PennyMac Mortgage Investment Trust (NYSE:PMT) Director Scott W. Carnahan acquired 3,180 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $17.33 per share, for a total transaction of $55,109.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Scott W. Carnahan also recently made the following trade(s):
- On Thursday, February 22nd, Scott W. Carnahan acquired 8,180 shares of PennyMac Mortgage Investment Trust stock. The shares were purchased at an average price of $17.23 per share, for a total transaction of $140,941.40.
- On Thursday, February 15th, Scott W. Carnahan acquired 1,248 shares of PennyMac Mortgage Investment Trust stock. The shares were purchased at an average price of $16.95 per share, for a total transaction of $21,153.60.
Shares of PennyMac Mortgage Investment Trust (NYSE PMT) traded up $0.38 during mid-day trading on Friday, reaching $17.43. The company had a trading volume of 1,384,632 shares, compared to its average volume of 1,638,891. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46. The firm has a market cap of $1,045.75, a price-to-earnings ratio of 11.78 and a beta of 0.49. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $93.70 million during the quarter, compared to analyst estimates of $80.43 million. PennyMac Mortgage Investment Trust had a net margin of 34.34% and a return on equity of 6.83%. PennyMac Mortgage Investment Trust’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 10.79%. The ex-dividend date was Thursday, December 28th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 127.03%.
PennyMac Mortgage Investment Trust announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 20th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research firms have recently issued reports on PMT. Zacks Investment Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $18.50.
A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $288,000. Xact Kapitalforvaltning AB acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $323,000. MetLife Investment Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $526,000. Bramshill Investments LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $522,000. Finally, Two Sigma Investments LP boosted its stake in PennyMac Mortgage Investment Trust by 766.4% in the 4th quarter. Two Sigma Investments LP now owns 449,870 shares of the real estate investment trust’s stock valued at $7,229,000 after buying an additional 397,947 shares in the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.
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About PennyMac Mortgage Investment Trust
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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