PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch Buys 1,451 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine Lynch purchased 1,451 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were acquired at an average price of $13.24 per share, with a total value of $19,211.24. Following the transaction, the director owned 57,647 shares in the company, valued at approximately $763,246.28. The trade was a 2.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Mortgage Investment Trust Trading Up 0.5%

Shares of PMT opened at $13.53 on Wednesday. PennyMac Mortgage Investment Trust has a 1-year low of $11.60 and a 1-year high of $14.93. The company has a market capitalization of $1.18 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.10 and a beta of 1.27. The company has a debt-to-equity ratio of 4.72, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $12.90 and its 200 day simple moving average is $12.48.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date was Friday, December 26th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 175.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. UBS Group boosted their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Citigroup reaffirmed an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday, December 29th. Finally, Citizens Jmp dropped their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.75.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 8.0% in the fourth quarter. Evergreen Capital Management LLC now owns 12,417 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 915 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PennyMac Mortgage Investment Trust by 32.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,991 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 5,654 shares during the period. CWM LLC grew its position in shares of PennyMac Mortgage Investment Trust by 93.8% in the 4th quarter. CWM LLC now owns 5,703 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,760 shares during the last quarter. LDR Capital Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $237,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $26,000. 67.38% of the stock is owned by institutional investors.

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.