Key Points
- Director Catherine Lynch purchased 1,451 shares of PennyMac Mortgage Investment Trust on January 23 at an average price of $13.24, increasing her stake to 57,647 shares (a 2.58% rise) as disclosed in an SEC Form 4 filing.
- PennyMac paid a quarterly dividend of $0.40 (annualized $1.60), implying a 11.8% yield, but the dividend payout ratio is a high 175.82%, suggesting potential sustainability concerns.
- PMT trades around the low-$13s with a 1-year range of $11.60–$14.93 and a $1.18 billion market cap; analysts' consensus is a "Hold" with an average target of $13.75, and institutional investors own about 67.4% of the stock.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) Director Catherine Lynch bought 1,451 shares of the company's stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $13.24 per share, with a total value of $19,211.24. Following the completion of the transaction, the director owned 57,647 shares in the company, valued at approximately $763,246.28. This trade represents a 2.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
PennyMac Mortgage Investment Trust Price Performance
Shares of NYSE PMT opened at $13.53 on Wednesday. PennyMac Mortgage Investment Trust has a 1 year low of $11.60 and a 1 year high of $14.93. The stock has a market capitalization of $1.18 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.10 and a beta of 1.27. The company's 50-day moving average is $12.90 and its 200 day moving average is $12.48. The company has a debt-to-equity ratio of 4.72, a current ratio of 0.88 and a quick ratio of 0.88.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $1.60 annualized dividend and a dividend yield of 11.8%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 175.82%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. 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 on the stock in a research report on Thursday, January 22nd. UBS Group increased their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a "neutral" rating in a research note on Friday, October 24th. 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. Finally, Citigroup reaffirmed an "outperform" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $13.75.
Read Our Latest Stock Report on PennyMac Mortgage Investment Trust
Institutional Trading of PennyMac Mortgage Investment Trust
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of PennyMac Mortgage Investment Trust by 8.8% in the third quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust's stock worth $27,028,000 after buying an additional 178,834 shares in the last quarter. Geode Capital Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,096,625 shares of the real estate investment trust's stock worth $26,966,000 after acquiring an additional 28,689 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PennyMac Mortgage Investment Trust by 7.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust's stock valued at $18,405,000 after acquiring an additional 98,701 shares in the last quarter. Millennium Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 41.8% during the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust's stock valued at $16,418,000 after purchasing an additional 394,497 shares during the last quarter. Finally, Boston Partners boosted its stake in PennyMac Mortgage Investment Trust by 20.9% during the 2nd quarter. Boston Partners now owns 1,249,758 shares of the real estate investment trust's stock valued at $15,873,000 after purchasing an additional 216,056 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.
PennyMac Mortgage Investment Trust Company Profile
(
Get Free Report)
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.
Further Reading
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