PennyMac Mortgage Investment Trust (PMT) Stock Price Down 5%
PennyMac Mortgage Investment Trust (NYSE:PMT) was down 5% during trading on Tuesday . The company traded as low as $15.88 and last traded at $16.04, with a volume of 1,342,531 shares traded. The stock had previously closed at $16.88.
A number of research analysts have commented on the company. Bank of America Corp. lowered PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.50 price objective (up from $17.00) on shares of PennyMac Mortgage Investment Trust in a research report on Monday, June 13th. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. TheStreet upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Finally, JMP Securities reiterated a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research report on Saturday, June 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.29.
The company has a 50 day moving average of $15.94 and a 200 day moving average of $14.15. The firm has a market cap of $1.10 billion and a price-to-earnings ratio of 12.65.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by $0.18. During the same period in the prior year, the company posted $0.09 EPS. The business had revenue of $54.40 million for the quarter, compared to analyst estimates of $30.22 million. PennyMac Mortgage Investment Trust’s quarterly revenue was up 33.7% on a year-over-year basis. On average, analysts expect that PennyMac Mortgage Investment Trust will post $2.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Thursday, July 14th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, July 12th. This represents a $1.88 annualized dividend and a yield of 11.76%.
In other PennyMac Mortgage Investment Trust news, CIO Vandad Fartaj sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $14.84, for a total transaction of $51,940.00. Following the completion of the transaction, the executive now directly owns 92,751 shares in the company, valued at $1,376,424.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David Spector sold 17,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $14.87, for a total transaction of $256,507.50. Following the transaction, the chief operating officer now owns 300,871 shares of the company’s stock, valued at $4,473,951.77. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in PennyMac Mortgage Investment Trust stock. Rhumbline Advisers boosted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,512 shares of the company’s stock after buying an additional 3,760 shares during the period. Rhumbline Advisers owned about 0.13% of PennyMac Mortgage Investment Trust worth $1,519,000 at the end of the most recent reporting 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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