PennyMac Mortgage Investment Trust Sees Unusually Large Options Volume (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) saw unusually large options trading activity on Friday. Stock investors acquired 8,282 put options on the company. This is an increase of approximately 2,024% compared to the average daily volume of 390 put options.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $6.93 on Friday. The company has a market capitalization of $604.75 million, a P/E ratio of 4.88, a price-to-earnings-growth ratio of 0.39 and a beta of 1.20. PennyMac Mortgage Investment Trust has a 52-week low of $6.80 and a 52-week high of $13.81. The business has a 50-day simple moving average of $8.74 and a two-hundred day simple moving average of $10.01. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.46 and a current ratio of 1.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.07). The firm had revenue of ($46.00) million during the quarter, compared to analysts’ expectations of $93.93 million. PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. Research analysts expect that PennyMac Mortgage Investment Trust will post 1.03 EPS 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, October 23rd. Stockholders of record on Thursday, October 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 8th. This represents a $1.60 annualized dividend and a dividend yield of 23.1%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 112.68%.

Wall Street Analyst Weigh In

PMT has been the subject of a number of research analyst reports. Citizens Jmp lowered their price target on PennyMac Mortgage Investment Trust from $15.00 to $12.50 and set a “market outperform” rating for the company in a report on Thursday. UBS Group reduced their price target on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 21st. Wells Fargo & Company cut their price target on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and an average price target of $10.92.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in PennyMac Mortgage Investment Trust by 142.1% in the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,285 shares in the last quarter. Allworth Financial LP bought a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $33,000. Nykredit A S bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at approximately $37,000. Public Employees Retirement System of Ohio bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth $55,000. 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 mortgage real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through investments in mortgage loans, mortgage servicing rights, mortgage-backed securities and other credit-sensitive assets tied to the U.S. housing market.

PennyMac’s activities include acquiring and managing newly originated and seasoned residential mortgage loans, investing in mortgage servicing rights and related financing arrangements, and participating in correspondent production activities.