PennyMac Mortgage Investment Trust (PMT) Scheduled to Post Quarterly Earnings on Wednesday

PennyMac Mortgage Investment Trust (NYSE:PMT) will be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

PennyMac Mortgage Investment Trust Trading Up 2.2 %

NYSE:PMT opened at $13.56 on Monday. The company has a market cap of $1.17 billion, a P/E ratio of 8.42 and a beta of 1.48. The stock’s fifty day moving average price is $14.05 and its two-hundred day moving average price is $13.93. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.80%. PennyMac Mortgage Investment Trust’s payout ratio is currently 99.38%.

Insider Activity at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the transaction, the director now owns 53,311 shares of the company’s stock, valued at $764,479.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 7.3% during the fourth quarter. Squarepoint Ops LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 815 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 3.6% during the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 1,137 shares during the last quarter. Blair William & Co. IL grew its stake in shares of PennyMac Mortgage Investment Trust by 9.9% during the first quarter. Blair William & Co. IL now owns 12,741 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 1,150 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 2.9% during the first quarter. Commonwealth Equity Services LLC now owns 42,460 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 1,201 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 54.9% during the third quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 1,291 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PMT shares. Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price target on the stock. B. Riley upped their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.58.

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.