PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 12-Month Low at $14.58

Shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) reached a new 52-week low on Monday . The company traded as low as $14.58 and last traded at $14.58, with a volume of 17864 shares. The stock had previously closed at $15.78.

PMT has been the topic of a number of recent research reports. TheStreet downgraded PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. JMP Securities decreased their price objective on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 26th. Credit Suisse Group decreased their price objective on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Finally, Jonestrading decreased their price objective on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.72.

The business’s 50 day moving average price is $15.75 and its 200-day moving average price is $16.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.38.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 14th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 13.59%. The ex-dividend date is Wednesday, July 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently -257.53%.

Hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. bought a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $36,000. Selective Wealth Management Inc. bought a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $62,000. Steward Partners Investment Advisory LLC raised its position in PennyMac Mortgage Investment Trust by 1,116.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,350 shares during the last quarter. Penserra Capital Management LLC bought a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $84,000. Finally, Samalin Investment Counsel LLC raised its position in PennyMac Mortgage Investment Trust by 119.9% in the 1st quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 2,834 shares during the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile (NYSE:PMT)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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