PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Sells $22,900.28 in Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) CAO Gregory Hendry sold 2,444 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.37, for a total value of $22,900.28. Following the transaction, the chief accounting officer owned 9,774 shares in the company, valued at approximately $91,582.38. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $9.35 on Friday. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.39 and a current ratio of 1.46. The stock has a 50 day simple moving average of $10.12 and a 200 day simple moving average of $11.25. PennyMac Mortgage Investment Trust has a 52-week low of $9.05 and a 52-week high of $13.81. The firm has a market capitalization of $814.88 million, a PE ratio of 6.58, a P/E/G ratio of 0.63 and a beta of 1.14.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The company had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. Sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.12 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Thursday, July 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend was Thursday, July 9th. PennyMac Mortgage Investment Trust’s payout ratio is currently 112.68%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PMT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Wells Fargo & Company reduced their price objective on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Weiss Ratings downgraded PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Wall Street Zen cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and an average price target of $12.10.

Institutional Trading of PennyMac Mortgage Investment Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC increased its position in PennyMac Mortgage Investment Trust by 350.3% during the fourth quarter. Nuveen LLC now owns 927,864 shares of the real estate investment trust’s stock worth $11,645,000 after buying an additional 721,790 shares during the last quarter. Royal Bank of Canada lifted its position in shares of PennyMac Mortgage Investment Trust by 1,469.4% in the first quarter. Royal Bank of Canada now owns 642,149 shares of the real estate investment trust’s stock valued at $7,488,000 after buying an additional 601,233 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of PennyMac Mortgage Investment Trust during the 2nd quarter worth approximately $6,137,000. JPMorgan Chase & Co. boosted its stake in shares of PennyMac Mortgage Investment Trust by 149.1% during the 4th quarter. JPMorgan Chase & Co. now owns 873,470 shares of the real estate investment trust’s stock worth $10,962,000 after acquiring an additional 522,839 shares during the period. Finally, Barclays PLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 93.2% during the 3rd quarter. Barclays PLC now owns 992,581 shares of the real estate investment trust’s stock worth $12,169,000 after acquiring an additional 478,947 shares during the last quarter. 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.