PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 1-Year Low – What’s Next?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.7750, with a volume of 1033019 shares. The stock had previously closed at $11.00.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Citizens Jmp cut their price objective on shares of 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. Wall Street Zen downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday. Finally, Piper Sandler cut their price objective on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.10.

PennyMac Mortgage Investment Trust Stock Down 2.0%

The stock has a 50 day moving average of $11.77 and a 200-day moving average of $12.34. The firm has a market capitalization of $939.58 million, a P/E ratio of 9.37, a PEG ratio of 0.53 and a beta of 1.19. The company has a debt-to-equity ratio of 7.99, a quick ratio of 1.39 and a current ratio of 1.39.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The firm had revenue of $82.29 million during the quarter, compared to the consensus estimate of $92.92 million. Research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Thursday, April 9th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 14.8%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 139.13%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of PMT. Nuveen LLC increased its position in shares of PennyMac Mortgage Investment Trust by 350.3% during the fourth quarter. Nuveen LLC now owns 927,864 shares of the real estate investment trust’s stock valued at $11,645,000 after buying an additional 721,790 shares during the period. JPMorgan Chase & Co. increased its position in shares of PennyMac Mortgage Investment Trust by 149.1% during the fourth quarter. JPMorgan Chase & Co. now owns 873,470 shares of the real estate investment trust’s stock valued at $10,962,000 after buying an additional 522,839 shares during the period. SG Americas Securities LLC increased its position in shares of PennyMac Mortgage Investment Trust by 1,586.5% during the fourth quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock valued at $6,613,000 after buying an additional 495,704 shares during the period. Barclays PLC increased its position in shares of PennyMac Mortgage Investment Trust by 93.2% during the third quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock valued at $12,169,000 after buying an additional 478,947 shares during the period. Finally, Millennium Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 41.8% during the third quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock valued at $16,418,000 after buying an additional 394,497 shares during the period. 67.38% of the stock is currently owned by institutional investors.

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.