PennyMac Mortgage Investment Trust (PMT) Shares Up 1.2%
Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) shot up 1.2% on Tuesday . The company traded as high as $16.22 and last traded at $16.20, with a volume of 212,904 shares traded. The stock had previously closed at $16.01.
PMT has been the topic of several recent analyst reports. Bank of America Corp. lowered shares of PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.50 price target (up from $17.00) on shares of PennyMac Mortgage Investment Trust in a research note on Monday, June 13th. JMP Securities reiterated a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research note on Saturday, June 4th. TheStreet upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 31st. Finally, Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.29.
The stock has a market capitalization of $1.11 billion and a price-to-earnings ratio of 12.82. The firm’s 50 day moving average is $15.99 and its 200-day moving average is $14.15.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.18. During the same quarter last year, the firm posted $0.09 earnings per share. The firm had revenue of $54.40 million for the quarter, compared to analysts’ expectations of $30.22 million. The company’s revenue was up 33.7% on a year-over-year basis. On average, analysts predict that PennyMac Mortgage Investment Trust will post $2.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Stockholders of record on Thursday, July 14th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $1.88 annualized dividend and a dividend yield of 11.74%.
In other PennyMac Mortgage Investment Trust news, CIO Vandad Fartaj sold 3,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,376,424.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Walker sold 1,862 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $15.71, for a total transaction of $29,252.02. Following the completion of the transaction, the insider now directly owns 73,703 shares in the company, valued at approximately $1,157,874.13. 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 position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,512 shares of the company’s stock after buying an additional 3,760 shares during the period. Rhumbline Advisers owned approximately 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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