Gregory Hendry Sells 2,444 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $9.27, for a total transaction of $22,655.88. Following the completion of the sale, the chief accounting officer owned 7,330 shares in the company, valued at approximately $67,949.10. The trade was a 25.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Stock Up 1.3%

PMT opened at $9.63 on Friday. The company has a market capitalization of $839.74 million, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. The firm has a 50-day simple moving average of $9.83 and a two-hundred day simple moving average of $10.78. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.18. PennyMac Mortgage Investment Trust has a 52 week low of $9.05 and a 52 week high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). The firm had revenue of ($46.00) million during the quarter, compared to the consensus estimate of $93.93 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 16.6%. The ex-dividend date is Thursday, October 8th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 112.68%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Saturday, August 15th. Piper Sandler decreased their price target on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Tuesday, August 18th. Finally, Zacks Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.50.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 142.1% during the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,285 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth $33,000. Clearstead Advisors LLC lifted its position in PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,815 shares during the last quarter. Allworth Financial LP purchased a new position in PennyMac Mortgage Investment Trust during the second quarter worth $33,000. Finally, Nykredit A S purchased a new position in PennyMac Mortgage Investment Trust during the second quarter worth $37,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Company Profile

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.