PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 1-Year Low – Time to Sell?

PennyMac Mortgage Investment Trust (NYSE:PMT)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $11.39 and last traded at $11.41, with a volume of 351462 shares. The stock had previously closed at $11.89.

Analyst Ratings Changes

Several research firms recently issued reports on PMT. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a research report on Thursday, December 18th. Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Citizens Jmp cut their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Stock Performance

The company has a debt-to-equity ratio of 6.55, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $1.01 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.99 and a beta of 1.25. The firm’s fifty day simple moving average is $12.65 and its 200 day simple moving average is $12.49.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.The business had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. On average, research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, December 26th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $1.60 dividend on an annualized basis and a yield of 13.8%. PennyMac Mortgage Investment Trust’s payout ratio is presently 163.27%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $26,000. Allworth Financial LP grew its position in PennyMac Mortgage Investment Trust by 1,741.7% during the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 2,003 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $33,000. GAMMA Investing LLC increased its holdings in PennyMac Mortgage Investment Trust by 102.8% in the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,395 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,815 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.