PennyMac Mortgage Investment Trust (NYSE:PMT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.44 and traded as high as $12.72. PennyMac Mortgage Investment Trust shares last traded at $12.7050, with a volume of 1,565,432 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on PMT shares. UBS Group boosted their price objective 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. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday, December 29th. Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a research note on Thursday, December 18th. Finally, Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $13.88.

PennyMac Mortgage Investment Trust Trading Up 0.4%

The firm has a market capitalization of $1.11 billion, a PE ratio of 13.96, a P/E/G ratio of 1.04 and a beta of 1.27. The firm has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $12.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 4.72.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.The firm had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $97.91 million. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend is Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 175.82%.

Insider Activity at PennyMac Mortgage Investment Trust

In related news, CEO David Spector purchased 10,000 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chief executive officer directly owned 357,794 shares of the company’s stock, valued at $4,436,645.60. The trade was a 2.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new stake in shares of PennyMac Mortgage Investment Trust in the second quarter worth $25,000. Allworth Financial LP lifted its holdings in PennyMac Mortgage Investment Trust by 1,741.7% in the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,003 shares during the period. Signaturefd LLC boosted 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 purchasing an additional 870 shares during the last quarter. GAMMA Investing LLC increased its position in shares of PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,395 shares during the last quarter. Finally, CWM LLC increased its position in shares of PennyMac Mortgage Investment Trust by 57.7% during the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,077 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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.