Traders Buy Large Volume of PennyMac Mortgage Investment Trust Put Options (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) was the recipient of unusually large options trading on Tuesday. Stock investors bought 2,507 put options on the stock. Thisisanincreaseof578% compared to the typical volume of 370 put options.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $12.09 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.58 and a beta of 1.22. The stock has a 50 day moving average of $12.57 and a 200 day moving average of $13.16. PennyMac Mortgage Investment Trust has a 12 month low of $11.70 and a 12 month high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The business had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $95.46 million. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 222.22%.

Analyst Upgrades and Downgrades

PMT has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Jones Trading reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. UBS Group decreased their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $14.50 to $13.50 in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $14.00.

Institutional Trading of PennyMac Mortgage Investment Trust

Large investors have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in PennyMac Mortgage Investment Trust in the second quarter worth $25,000. GAMMA Investing LLC increased its position in PennyMac Mortgage Investment Trust by 204.0% in the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,363 shares during the last quarter. Signaturefd LLC increased its position in PennyMac Mortgage Investment Trust by 53.8% in the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 870 shares during the last quarter. Russell Investments Group Ltd. increased its position in PennyMac Mortgage Investment Trust by 196.5% in the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,162 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in PennyMac Mortgage Investment Trust by 71.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 4,147 shares during 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, 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.