Catherine Lynch Acquires 1,451 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch purchased 1,451 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $13.24 per share, with a total value of $19,211.24. Following the purchase, the director owned 57,647 shares in the company, valued at $763,246.28. This trade represents a 2.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT traded up $0.07 during trading on Tuesday, reaching $13.53. The company’s stock had a trading volume of 901,633 shares, compared to its average volume of 1,044,571. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.10 and a beta of 1.27. PennyMac Mortgage Investment Trust has a twelve month low of $11.60 and a twelve month high of $14.93. The business’s fifty day moving average price is $12.90 and its 200-day moving average price is $12.48.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, December 26th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend was Friday, December 26th. PennyMac Mortgage Investment Trust’s payout ratio is currently 175.82%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Citizens Jmp reduced their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd. UBS Group lifted their price objective on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research note on Thursday, December 18th. Finally, Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $13.75.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its position in PennyMac Mortgage Investment Trust by 8.8% during the third quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust’s stock worth $27,028,000 after purchasing an additional 178,834 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,096,625 shares of the real estate investment trust’s stock worth $26,966,000 after buying an additional 28,689 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PennyMac Mortgage Investment Trust by 7.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust’s stock worth $18,405,000 after buying an additional 98,701 shares in the last quarter. Millennium Management LLC grew its stake in PennyMac Mortgage Investment Trust by 41.8% in the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock valued at $16,418,000 after acquiring an additional 394,497 shares during the last quarter. Finally, Boston Partners increased its holdings in PennyMac Mortgage Investment Trust by 20.9% during the 2nd quarter. Boston Partners now owns 1,249,758 shares of the real estate investment trust’s stock valued at $15,873,000 after acquiring an additional 216,056 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.