Catherine Lynch Purchases 1,451 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch purchased 1,451 shares of the stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $13.24 per share, for a total transaction of $19,211.24. Following the completion of the purchase, the director owned 57,647 shares in the company, valued at approximately $763,246.28. This trade represents a 2.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Mortgage Investment Trust Stock Down 0.5%

PMT stock opened at $13.47 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72. The company’s 50-day moving average price is $12.92 and its 200 day moving average price is $12.48. PennyMac Mortgage Investment Trust has a 52 week low of $11.60 and a 52 week high of $14.93. The company has a market cap of $1.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.11 and a beta of 1.27.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $1.60 annualized dividend and a dividend yield of 11.9%. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter worth about $25,000. Flagship Harbor Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $26,000. Allworth Financial LP grew its stake in PennyMac Mortgage Investment Trust by 1,741.7% in the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,003 shares during the period. Signaturefd LLC raised its holdings in PennyMac Mortgage Investment Trust by 53.8% in the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 870 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citizens Jmp reduced their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday, December 18th. Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, UBS Group upped their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.