PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 12-Month Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

PennyMac Mortgage Investment Trust Stock Up 0.2 %

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 company has a market capitalization of $1.13 billion, a P/E ratio of 9.54 and a beta of 1.50. The stock’s fifty day moving average is $13.52 and its 200 day moving average is $13.78.

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

PennyMac Mortgage Investment Trust Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $28,000. Simplify Asset Management Inc. bought a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $143,000. Aigen Investment Management LP bought a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $152,000. Allspring Global Investments Holdings LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter worth about $177,000. Finally, Caprock Group LLC increased 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 worth $195,000 after acquiring an additional 1,156 shares in the last quarter. 67.38% of the stock is currently owned by 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.