PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 1-Year Low – Here’s Why

PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low during trading on Friday . The company traded as low as $11.15 and last traded at $11.1450, with a volume of 440674 shares changing hands. The stock had previously closed at $11.31.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. 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 report on Thursday, December 18th. Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Finally, Citizens Jmp reduced their target price on shares of 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. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Trading Down 1.0%

The firm has a market cap of $974.24 million, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.01 and a beta of 1.25. The company has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $12.42. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 6.55.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. The firm had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Thursday, April 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 14.3%. PennyMac Mortgage Investment Trust’s payout ratio is presently 163.27%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Hedge funds have recently modified their holdings of the company. Amalgamated Bank grew its position in shares of PennyMac Mortgage Investment Trust by 3.3% during the 3rd quarter. Amalgamated Bank now owns 25,689 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 831 shares during the period. Evergreen Capital Management LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 8.0% in the 4th quarter. Evergreen Capital Management LLC now owns 12,417 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 915 shares in the last quarter. CWM LLC raised its holdings in PennyMac Mortgage Investment Trust by 57.7% in the 3rd 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 period. Collar Capital Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 1.2% in the 4th quarter. Collar Capital Management LLC now owns 90,615 shares of the real estate investment trust’s stock worth $1,137,000 after purchasing an additional 1,100 shares during the period. Finally, Wedbush Securities Inc. boosted its position in PennyMac Mortgage Investment Trust by 1.3% during the fourth quarter. Wedbush Securities Inc. now owns 90,310 shares of the real estate investment trust’s stock worth $1,133,000 after purchasing an additional 1,125 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

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.