PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 1-Year Low – What’s Next?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares hit a new 52-week low on Tuesday . The stock traded as low as $10.76 and last traded at $10.7750, with a volume of 1033019 shares changing hands. The stock had previously closed at $11.00.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, March 27th. Citizens Jmp decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.10.

PennyMac Mortgage Investment Trust Stock Performance

The company has a market capitalization of $939.58 million, a P/E ratio of 9.37, a PEG ratio of 0.53 and a beta of 1.19. The company’s 50-day moving average is $11.77 and its two-hundred day moving average is $12.34. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.20). The firm had revenue of $82.29 million during the quarter, compared to analysts’ expectations of $92.92 million. PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.60 annualized dividend and a yield of 14.8%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 139.13%.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 1,586.5% during the fourth quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock valued at $6,613,000 after purchasing an additional 495,704 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of PennyMac Mortgage Investment Trust by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 339,375 shares of the real estate investment trust’s stock valued at $4,161,000 after purchasing an additional 42,720 shares during the period. Dana Investment Advisors Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 10.2% during the third quarter. Dana Investment Advisors Inc. now owns 525,337 shares of the real estate investment trust’s stock valued at $6,441,000 after purchasing an additional 48,618 shares during the period. Wedbush Securities Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 4.9% during the third quarter. Wedbush Securities Inc. now owns 89,185 shares of the real estate investment trust’s stock valued at $1,093,000 after purchasing an additional 4,185 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 14.0% during the third quarter. J.W. Cole Advisors Inc. now owns 16,578 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 2,038 shares during the period. 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.