PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones Sells 14,530 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares of the company’s stock, valued at $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

PennyMac Mortgage Investment Trust Trading Up 3.0 %

NYSE:PMT opened at $14.76 on Friday. The business’s 50-day moving average is $13.30 and its two-hundred day moving average is $13.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $15.22. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.09 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate 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%. Research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

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

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $25,000. Versant Capital Management Inc boosted its stake 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 in the last quarter. Principal Securities Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,288 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $36,000. 67.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.