PennyMac Mortgage Investment Trust to Issue Quarterly Dividend of $0.40 (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Wednesday, December 10th. Investors of record on Friday, December 26th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, January 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Friday, December 26th.

PennyMac Mortgage Investment Trust has decreased its dividend payment by an average of 0.0%annually over the last three years. PennyMac Mortgage Investment Trust has a dividend payout ratio of 101.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PennyMac Mortgage Investment Trust to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 99.4%.

PennyMac Mortgage Investment Trust Stock Up 0.0%

NYSE PMT traded up $0.01 on Wednesday, reaching $12.56. The company had a trading volume of 720,283 shares, compared to its average volume of 821,977. The company’s fifty day moving average is $12.39 and its 200-day moving average is $12.39. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.55 and a beta of 1.28. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. PennyMac Mortgage Investment Trust has a 1-year low of $11.60 and a 1-year high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.19. The firm had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.91 million. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%. On average, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Catherine A. Lynch acquired 2,823 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $12.02 per share, for a total transaction of $33,932.46. Following the completion of the transaction, the director directly owned 54,711 shares of the company’s stock, valued at approximately $657,626.22. The trade was a 5.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector acquired 10,000 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $12.40 per share, with a total value of $124,000.00. Following the acquisition, the chief executive officer owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 14,293 shares of company stock worth $176,557 over the last three months. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont acquired a new position in PennyMac Mortgage Investment Trust in the second quarter valued at about $25,000. Allworth Financial LP increased its stake in PennyMac Mortgage Investment Trust by 1,741.7% in the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,003 shares during the last quarter. Signaturefd LLC lifted its stake in PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 870 shares during the last quarter. CWM LLC lifted its stake in PennyMac Mortgage Investment Trust by 57.7% during the third quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,077 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 196.5% in the 1st quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,162 shares in the last quarter. 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.