PennyMac Mortgage Investment Trust (PMT) Sets New 1-Year High at $19.99

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Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week high during trading on Tuesday . The company traded as high as $19.99 and last traded at $19.99, with a volume of 9193 shares. The stock had previously closed at $19.82.

A number of brokerages recently weighed in on PMT. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. Barclays upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. Finally, ValuEngine cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 15.28 and a beta of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. The company had revenue of $82.99 million during the quarter, compared to analysts’ expectations of $70.85 million. PennyMac Mortgage Investment Trust had a net margin of 36.14% and a return on equity of 8.37%. During the same period in the prior year, the company posted $0.38 EPS. analysts anticipate that PennyMac Mortgage Investment Trust will post 1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 30th. Shareholders of record on Friday, July 13th were given a $0.47 dividend. The ex-dividend date of this dividend was Thursday, July 12th. This represents a $1.88 dividend on an annualized basis and a yield of 9.40%. PennyMac Mortgage Investment Trust’s payout ratio is currently 144.62%.

In other news, insider David Spector sold 7,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $18.68, for a total value of $130,760.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Doug Jones sold 3,725 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $18.67, for a total transaction of $69,545.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,212 shares of company stock valued at $875,402. 2.46% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $192,000. Element Capital Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $200,000. Profund Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $201,000. Fox Run Management L.L.C. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at about $208,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 70.60% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile (NYSE:PMT)

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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