PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells $16,419.78 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Stacey D. Stewart sold 702 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $23.39, for a total value of $16,419.78. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NYSE PMT traded up $0.09 during trading hours on Friday, hitting $23.52. 470,100 shares of the company traded hands, compared to its average volume of 797,110. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.62. The company has a current ratio of 0.54, a quick ratio of 0.56 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $23.05 and its 200 day moving average price is $22.55. PennyMac Mortgage Investment Trust has a 12 month low of $19.74 and a 12 month high of $23.79.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. PennyMac Mortgage Investment Trust had a return on equity of 12.68% and a net margin of 46.31%. The company had revenue of $155.04 million during the quarter, compared to analysts’ expectations of $133.35 million. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 2.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Tuesday, December 31st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date was Monday, December 30th. PennyMac Mortgage Investment Trust’s payout ratio is currently 77.69%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC boosted its holdings in PennyMac Mortgage Investment Trust by 103.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 23,600 shares of the real estate investment trust’s stock valued at $526,000 after acquiring an additional 12,000 shares during the period. Bank of America Corp DE boosted its holdings in PennyMac Mortgage Investment Trust by 36.6% during the 4th quarter. Bank of America Corp DE now owns 315,714 shares of the real estate investment trust’s stock valued at $7,037,000 after acquiring an additional 84,617 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 63.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 101,954 shares of the real estate investment trust’s stock valued at $2,273,000 after acquiring an additional 39,428 shares during the period. Bank of New York Mellon Corp boosted its holdings in PennyMac Mortgage Investment Trust by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,300,201 shares of the real estate investment trust’s stock valued at $28,981,000 after acquiring an additional 85,836 shares during the period. Finally, Marshall Wace North America L.P. boosted its holdings in PennyMac Mortgage Investment Trust by 40.2% during the 4th quarter. Marshall Wace North America L.P. now owns 153,893 shares of the real estate investment trust’s stock valued at $3,430,000 after acquiring an additional 44,129 shares during the period. Institutional investors own 64.18% of the company’s stock.

Several equities analysts have recently weighed in on PMT shares. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday. Nomura reissued a “buy” rating and set a $24.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Sunday, February 9th. Finally, Compass Point started coverage on PennyMac Mortgage Investment Trust in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.50 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. PennyMac Mortgage Investment Trust has a consensus rating of “Buy” and a consensus target price of $23.44.

About PennyMac Mortgage Investment Trust

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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