PennyMac Mortgage Investment Trust (NYSE:PMT) Reaches New 12-Month Low – What’s Next?

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week low on Friday . The company traded as low as $11.20 and last traded at $11.2450, with a volume of 310117 shares. The stock had previously closed at $11.63.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, January 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised 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 report on Thursday, December 18th. Finally, Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.75.

PennyMac Mortgage Investment Trust Price Performance

The company has a market capitalization of $977.67 million, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.98 and a beta of 1.25. The business has a fifty day moving average price of $12.46 and a 200 day moving average price of $12.45. The company has a debt-to-equity ratio of 6.55, a current ratio of 1.12 and a quick ratio of 1.12.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $0.15 million during the quarter, compared to the consensus estimate of $96.96 million. PennyMac Mortgage Investment Trust had a net margin of 41.59% and a return on equity of 9.53%. On average, research 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, April 24th. Stockholders of record on Thursday, April 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date of this dividend is Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 163.27%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $26,000. Allworth Financial LP lifted its position 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 worth $27,000 after purchasing an additional 2,003 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at $33,000. 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 period. Finally, Clearstead Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,815 shares during the period. Institutional investors and hedge funds 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.