PennyMac Mortgage Investment Trust (NYSE:PMT) Reaches New 1-Year Low – Here’s What Happened

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week low during trading on Friday . The company traded as low as $12.80 and last traded at $13.08, with a volume of 149522 shares. The stock had previously closed at $12.95.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, PennyMac Mortgage Investment Trust presently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

PennyMac Mortgage Investment Trust Trading Up 0.2 %

The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.54 and a beta of 1.50. The stock has a 50-day simple moving average of $13.50 and a two-hundred day simple moving average of $13.78. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 12.33%. PennyMac Mortgage Investment Trust’s payout ratio is presently 117.65%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth $28,000. Geode Capital Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust’s stock worth $28,838,000 after purchasing an additional 31,479 shares during the last quarter. Vestcor Inc boosted its position in PennyMac Mortgage Investment Trust by 136.5% during the third quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust’s stock valued at $1,021,000 after purchasing an additional 41,300 shares in the last quarter. Finally, Barclays PLC grew its stake in PennyMac Mortgage Investment Trust by 218.7% in the third 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 during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.