Insider Buying: PennyMac Mortgage Investment Trust (NYSE:PMT) Director Buys 1,451 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch acquired 1,451 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $13.24 per share, with a total value of $19,211.24. Following the completion of the purchase, the director owned 57,647 shares in the company, valued at approximately $763,246.28. This represents a 2.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PennyMac Mortgage Investment Trust Price Performance

PMT stock traded up $0.07 on Tuesday, reaching $13.53. The company had a trading volume of 901,633 shares, compared to its average volume of 1,044,571. The company’s fifty day moving average is $12.90 and its 200 day moving average is $12.48. The company has a market cap of $1.18 billion, a P/E ratio of 14.86, a PEG ratio of 1.10 and a beta of 1.27. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. PennyMac Mortgage Investment Trust has a 1 year low of $11.60 and a 1 year high of $14.93.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, December 26th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.8%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 175.82%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp reduced their target price 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. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday, December 18th. Citigroup restated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.75.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently made changes to their positions in PMT. Trust Co. of Vermont purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $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 acquiring an additional 2,003 shares during the period. Signaturefd LLC increased its stake in PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 870 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 102.8% in the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 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.