Catherine A. Lynch Buys 949 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch purchased 949 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $12.54 per share, with a total value of $11,900.46. Following the transaction, the director now owns 38,581 shares of the company’s stock, valued at approximately $483,805.74. This represents a 2.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Mortgage Investment Trust Trading Down 0.7 %

PennyMac Mortgage Investment Trust stock opened at $12.71 on Thursday. The stock has a market cap of $1.10 billion, a PE ratio of 9.34 and a beta of 1.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $12.98 and a 200 day moving average price of $13.55. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were issued a $0.40 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.59%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Analysts Set New Price Targets

PMT has been the topic of a number of research reports. Wedbush reissued a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after buying an additional 77,955 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 90.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 82,735 shares in the last quarter. Citigroup Inc. boosted its position in PennyMac Mortgage Investment Trust by 43.2% during the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after purchasing an additional 123,079 shares during the period. Barclays PLC increased its holdings in PennyMac Mortgage Investment Trust by 218.7% in the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after purchasing an additional 102,067 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new position in PennyMac Mortgage Investment Trust in the third quarter valued at about $5,841,000. 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.