PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 12-Month Low – Here’s Why

PennyMac Mortgage Investment Trust (NYSE:PMT) shares hit a new 52-week low on Friday . The company traded as low as $11.15 and last traded at $11.1450, with a volume of 440674 shares trading hands. The stock had previously closed at $11.31.

Wall Street Analyst Weigh In

PMT has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. 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 research report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded 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 report on Thursday, December 18th. Finally, Citigroup reissued an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.75.

PennyMac Mortgage Investment Trust Stock Down 1.0%

The company has a debt-to-equity ratio of 6.55, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $12.41. The stock has a market capitalization of $974.28 million, a PE ratio of 11.42, a P/E/G ratio of 0.99 and a beta of 1.25.

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

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 14.3%. The ex-dividend date is Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 163.27%.

Institutional Trading of PennyMac Mortgage Investment Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth $33,000. GAMMA Investing LLC grew its stake in shares of 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 worth $35,000 after acquiring an additional 1,395 shares during the last quarter. Clearstead Advisors LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,815 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 57.7% during the third quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors 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.