PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Sells $22,655.88 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $9.27, for a total value of $22,655.88. Following the transaction, the chief accounting officer directly owned 7,330 shares of the company’s stock, valued at $67,949.10. The trade was a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $9.66 on Friday. The stock’s 50-day moving average is $9.81 and its two-hundred day moving average is $10.77. The company has a debt-to-equity ratio of 9.18, a current ratio of 1.46 and a quick ratio of 1.46. PennyMac Mortgage Investment Trust has a 1-year low of $9.05 and a 1-year high of $13.81. The company has a market cap of $842.37 million, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. The company had revenue of ($46.00) million during the quarter, compared to analysts’ expectations of $93.93 million. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.03 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Thursday, October 8th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $1.60 annualized dividend and a yield of 16.6%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 112.68%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter worth approximately $164,344,000. Invesco Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 8.8% in the 3rd quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust’s stock valued at $27,028,000 after buying an additional 178,834 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PennyMac Mortgage Investment Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,113,185 shares of the real estate investment trust’s stock valued at $26,524,000 after buying an additional 11,764 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PennyMac Mortgage Investment Trust by 7.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust’s stock valued at $18,405,000 after buying an additional 98,701 shares during the last quarter. Finally, Millennium Management LLC raised its stake in PennyMac Mortgage Investment Trust by 41.8% during the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock worth $16,418,000 after acquiring an additional 394,497 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PMT has been the subject of several analyst reports. Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Wells Fargo & Company decreased their price objective on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus target price of $11.50.

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.