PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells $210,685.00 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now owns 64,082 shares of the company’s stock, valued at $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT opened at $14.76 on Monday. The stock has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $13.57. The firm has a market capitalization of $1.28 billion, a P/E ratio of 11.09 and a beta of 1.51. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.84%. PennyMac Mortgage Investment Trust’s payout ratio is currently 120.30%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors have recently modified their holdings of PMT. Rialto Wealth Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $25,000. Versant Capital Management Inc grew its position in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $28,000. Principal Securities Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,288 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of $15.20.

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.