PennyMac Mortgage Investment Trust (NYSE:PMT) Reaches New 12-Month Low – Should You Sell?

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.23 and last traded at $10.3360, with a volume of 62056 shares traded. The stock had previously closed at $10.42.

Wall Street Analyst Weigh In

PMT has been the topic of several research analyst reports. Piper Sandler reduced their price target on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, March 27th. Finally, Citizens Jmp reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average target price of $13.10.

PennyMac Mortgage Investment Trust Stock Up 2.2%

The firm’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $12.24. The company has a market cap of $916.91 million, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.50 and a beta of 1.19. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The firm had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were paid a $0.40 dividend. The ex-dividend date was Thursday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 15.2%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 139.13%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Large investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $26,000. Bessemer Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 142.1% in the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,285 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 102.8% in the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,395 shares during the period. Finally, Clearstead Advisors LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,815 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

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.