PennyMac Mortgage Investment Trust (NYSE:PMT) shares saw strong trading volume on Thursday . 696,250 shares were traded during trading, an increase of 7% from the previous session’s volume of 650,761 shares.The stock last traded at $16.30 and had previously closed at $16.37.

Several equities analysts have recently commented on PMT shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.50 price target (up previously from $17.00) on shares of PennyMac Mortgage Investment Trust in a research report on Monday, June 13th. JMP Securities reaffirmed a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research report on Saturday, June 4th. TheStreet raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Finally, Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.29.

The stock has a 50-day moving average price of $15.79 and a 200 day moving average price of $14.15. The firm has a market cap of $1.12 billion and a PE ratio of 12.91.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.18. The company had revenue of $54.40 million for the quarter, compared to analyst estimates of $30.22 million. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. Equities analysts expect that PennyMac Mortgage Investment Trust will post $2.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 14th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 11.50%. The ex-dividend date is Tuesday, July 12th.

In related news, CIO Vandad Fartaj sold 3,500 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, May 16th. The shares were sold at an average price of $14.84, for a total value of $51,940.00. Following the transaction, the executive now owns 92,751 shares in the company, valued at approximately $1,376,424.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Spector sold 17,250 shares of PennyMac Mortgage Investment Trust stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $14.87, for a total transaction of $256,507.50. Following the completion of the transaction, the chief operating officer now owns 300,871 shares in the company, valued at approximately $4,473,951.77. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in the company. LSV Asset Management increased its position in shares of PennyMac Mortgage Investment Trust by 1.3% in the fourth quarter. LSV Asset Management now owns 1,690,300 shares of the company’s stock valued at $25,793,000 after buying an additional 21,965 shares during the period. Rhumbline Advisers increased its position in shares of PennyMac Mortgage Investment Trust by 3.9% in the fourth quarter. Rhumbline Advisers now owns 99,512 shares of the company’s stock valued at $1,519,000 after buying an additional 3,760 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 61.4% in the fourth quarter. Advisors Asset Management Inc. now owns 965,821 shares of the company’s stock valued at $14,738,000 after buying an additional 367,424 shares during the period.

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

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