PennyMac Mortgage Investment Trust (NYSE:PMT) Reaches New 52-Week Low – What’s Next?

PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week low on Wednesday . The company traded as low as $12.28 and last traded at $12.37, with a volume of 72007 shares changing hands. The stock had previously closed at $12.48.

Analyst Ratings Changes

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

PennyMac Mortgage Investment Trust Stock Down 0.6 %

The stock has a market cap of $1.08 billion, a PE ratio of 9.13 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The company’s 50-day moving average price is $13.23 and its 200 day moving average price is $13.69.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period in the prior year, the company posted $0.51 EPS. As a group, analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.89%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently bought and sold shares of PMT. Wilmington Savings Fund Society FSB purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Versant Capital Management Inc boosted its position in PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 822 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $143,000. Aigen Investment Management LP purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth $152,000. Finally, Caprock Group LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 9.3% in the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 1,156 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.