Catherine A. Lynch Acquires 949 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch purchased 949 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $12.54 per share, with a total value of $11,900.46. Following the transaction, the director now owns 38,581 shares of the company’s stock, valued at approximately $483,805.74. This represents a 2.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Mortgage Investment Trust Trading Down 0.9 %

NYSE:PMT traded down $0.11 on Tuesday, reaching $12.79. The stock had a trading volume of 529,364 shares, compared to its average volume of 706,271. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 9.40 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. The firm’s fifty day moving average is $12.99 and its two-hundred day moving average is $13.56.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.51%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently bought and sold shares of PMT. Principal Financial Group Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after purchasing an additional 77,955 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PennyMac Mortgage Investment Trust by 90.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares during the last quarter. Citigroup Inc. grew its holdings in PennyMac Mortgage Investment Trust by 43.2% in the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock valued at $5,813,000 after buying an additional 123,079 shares during the period. Barclays PLC increased its stake in shares of PennyMac Mortgage Investment Trust by 218.7% during the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after acquiring an additional 102,067 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth about $5,841,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.