PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 52-Week Low – What’s Next?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares reached a new 52-week low on Monday . The stock traded as low as $10.00 and last traded at $10.0150, with a volume of 325606 shares traded. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PMT. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Wells Fargo & Company dropped their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Piper Sandler dropped their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $12.80.

PennyMac Mortgage Investment Trust Stock Down 3.0%

The firm’s 50 day simple moving average is $11.25 and its 200 day simple moving average is $12.08. The company has a market cap of $861.12 million, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%.The business had revenue of $82.29 million during the quarter, compared to the consensus estimate of $92.92 million. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.21 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Thursday, April 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 16.2%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 139.13%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 8.0% in the 4th quarter. Evergreen Capital Management LLC now owns 12,417 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 915 shares in the last quarter. Collar Capital Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 1.2% in the 4th quarter. Collar Capital Management LLC now owns 90,615 shares of the real estate investment trust’s stock worth $1,137,000 after buying an additional 1,100 shares in the last quarter. Wedbush Securities Inc. grew its holdings in PennyMac Mortgage Investment Trust by 1.3% in the 4th quarter. Wedbush Securities Inc. now owns 90,310 shares of the real estate investment trust’s stock worth $1,133,000 after buying an additional 1,125 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in PennyMac Mortgage Investment Trust by 12.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,625 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 1,188 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in PennyMac Mortgage Investment Trust by 142.1% in the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,285 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

About PennyMac Mortgage Investment Trust

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.