PennyMac Mortgage Investment Trust (PMT) Trading Up 1.2%
PennyMac Mortgage Investment Trust (NYSE:PMT) was 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. The stock had previously closed at $16.01.
A number of equities research analysts recently weighed in on PMT shares. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating and set a $15.00 price objective on the stock in a report on Tuesday, April 26th. TheStreet raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st. JMP Securities reaffirmed a “buy” rating on shares of PennyMac Mortgage Investment Trust in a report on Saturday, June 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.50 price objective (up from $17.00) on shares of PennyMac Mortgage Investment Trust in a report on Monday, June 13th. Finally, Bank of America Corp. downgraded PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.29.
The stock’s 50-day moving average price is $16.03 and its 200-day moving average price is $14.18. The stock has a market capitalization of $1.11 billion and a P/E ratio of 12.83.
PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.18. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business had revenue of $54.40 million for the quarter, compared to analysts’ expectations of $30.22 million. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post $2.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Thursday, July 14th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, July 12th. This represents a $1.88 annualized dividend and a yield of 11.57%.
In other PennyMac Mortgage Investment Trust news, CIO Vandad Fartaj sold 3,500 shares of the 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 directly owns 92,751 shares of the company’s stock, valued at approximately $1,376,424.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David M. Walker sold 1,862 shares of the 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 $1,157,874.13. The disclosure for this sale can be found here.
An institutional investor recently raised its position in PennyMac Mortgage Investment Trust stock. Rhumbline Advisers increased its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. 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 approximately 0.13% of PennyMac Mortgage Investment Trust worth $1,519,000 as of its most recent filing with the SEC.
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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