PennyMac Mortgage Investment Trust (PMT) Scheduled to Post Earnings on Wednesday

PennyMac Mortgage Investment Trust (NYSE:PMT) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.32 per share for the quarter.

PennyMac Mortgage Investment Trust Stock Up 0.7 %

Shares of PMT stock traded up $0.09 during mid-day trading on Thursday, hitting $13.32. The stock had a trading volume of 318,035 shares, compared to its average volume of 615,696. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The firm has a market capitalization of $1.15 billion, a P/E ratio of 8.29 and a beta of 1.48. The firm’s 50-day moving average is $14.06 and its two-hundred day moving average is $13.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.01%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 99.38%.

Analyst Ratings Changes

Several research analysts have recently commented on PMT shares. B. Riley boosted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.58.

Insider Activity at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in PMT. Envestnet Asset Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the 1st quarter valued at about $213,000. MAS Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 158.9% during the 1st quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock valued at $895,000 after purchasing an additional 32,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in PennyMac Mortgage Investment Trust by 94.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 shares of the real estate investment trust’s stock valued at $501,000 after purchasing an additional 14,379 shares during the last quarter. Bank of New York Mellon Corp grew its stake in PennyMac Mortgage Investment Trust by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock valued at $18,800,000 after purchasing an additional 30,302 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 1,137 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.