Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week high and low on Monday . The stock traded as low as $18.60 and last traded at $18.62, with a volume of 19306 shares trading hands. The stock had previously closed at $18.50.
Several brokerages have recently weighed in on PMT. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Saturday, May 12th. ValuEngine lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd.
The company has a debt-to-equity ratio of 0.44, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 14.36 and a beta of 0.39.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $75.67 million during the quarter, compared to analyst estimates of $80.20 million. PennyMac Mortgage Investment Trust had a return on equity of 7.28% and a net margin of 33.00%. During the same quarter in the prior year, the firm posted $0.47 earnings per share. research analysts forecast that PennyMac Mortgage Investment Trust will post 1.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 13th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $1.88 annualized dividend and a dividend yield of 10.07%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 144.62%.
In other news, CFO Andrew S. Chang sold 1,899 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $17.30, for a total transaction of $32,852.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Walker sold 1,538 shares of the company’s stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $17.41, for a total value of $26,776.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,818 shares of company stock valued at $602,718. Insiders own 2.46% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PMT. GSA Capital Partners LLP purchased a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $192,000. Element Capital Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $200,000. Profund Advisors LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $201,000. Orinda Asset Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $241,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 55.2% during the first quarter. Envestnet Asset Management Inc. now owns 13,644 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 4,850 shares during the last quarter. 70.63% of the stock is owned by institutional investors and hedge funds.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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