Insider Selling: PennyMac Mortgage Investment Trust (NYSE:PMT) Insider Sells $34,800.78 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) insider Jeffrey Grogin sold 1,862 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $18.69, for a total value of $34,800.78. Following the completion of the transaction, the insider now owns 36,642 shares of the company’s stock, valued at $684,838.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NYSE:PMT opened at $22.07 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $17.88 and a twelve month high of $22.62. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $21.63. The firm has a market cap of $1.54 billion, a P/E ratio of 9.69, a P/E/G ratio of 2.19 and a beta of 0.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.25. PennyMac Mortgage Investment Trust had a return on equity of 13.71% and a net margin of 46.63%. The firm had revenue of $106.62 million during the quarter, compared to the consensus estimate of $89.10 million. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts forecast that PennyMac Mortgage Investment Trust will post 2.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date is Friday, July 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 94.47%.

PMT has been the subject of several research analyst reports. Nomura decreased their price objective on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Jaffray Companies set a $75.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.25.

A number of large investors have recently added to or reduced their stakes in PMT. Crossmark Global Holdings Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 5.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 11,370 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 620 shares during the last quarter. 6 Meridian boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. 6 Meridian now owns 35,460 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 662 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of PennyMac Mortgage Investment Trust by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 43,587 shares of the real estate investment trust’s stock valued at $812,000 after buying an additional 958 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 34,968 shares of the real estate investment trust’s stock valued at $724,000 after buying an additional 1,231 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of PennyMac Mortgage Investment Trust by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 39,886 shares of the real estate investment trust’s stock valued at $743,000 after buying an additional 1,535 shares during the last quarter. 71.48% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Insider Buying and Selling by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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