PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Pass Above 200 Day Moving Average – Here’s What Happened

PennyMac Mortgage Investment Trust (NYSE:PMT)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.45 and traded as high as $13.27. PennyMac Mortgage Investment Trust shares last traded at $13.1650, with a volume of 1,100,333 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PMT shares. UBS Group lifted their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Friday, October 24th. Zacks Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and an average price target of $13.88.

PennyMac Mortgage Investment Trust Price Performance

The stock has a 50 day moving average of $12.66 and a two-hundred day moving average of $12.45. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $1.15 billion, a PE ratio of 14.47, a PEG ratio of 1.07 and a beta of 1.27.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. The company had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, December 26th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.60 dividend on an annualized basis and a yield of 12.2%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 175.82%.

Insiders Place Their Bets

In other news, CEO David Spector bought 10,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $12.40 per share, with a total value of $124,000.00. Following the purchase, the chief executive officer directly owned 357,794 shares in the company, valued at $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PMT. AQR Capital Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 36.7% in the 1st quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 4,335 shares in the last quarter. Jane Street Group LLC purchased a new position in PennyMac Mortgage Investment Trust during the 1st quarter valued at about $4,166,000. Intech Investment Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% in the 1st quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust’s stock valued at $1,601,000 after purchasing an additional 1,411 shares during the period. Strs Ohio acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $240,000. Finally, Voya Investment Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 71.7% in the first quarter. Voya Investment Management LLC now owns 155,481 shares of the real estate investment trust’s stock worth $2,278,000 after purchasing an additional 64,912 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.