PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 613,195 shares traded hands during mid-day trading, an increase of 2% from the previous session's volume of 603,003 shares.The stock last traded at $14.06 and had previously closed at $14.95.
Wall Street Analysts Forecast Growth
PMT has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, February 7th. Wedbush reiterated a "neutral" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $15.00 price target (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of "Hold" and a consensus price target of $14.92.
View Our Latest Analysis on PMT
PennyMac Mortgage Investment Trust Stock Down 8.0 %
The firm's 50 day simple moving average is $14.30 and its 200 day simple moving average is $14.33. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.21 and a beta of 1.47. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.37.
PennyMac Mortgage Investment Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 11.64%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 106.67%.
Insiders Place Their Bets
In other news, Director Doug Jones sold 7,810 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by insiders.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
Several large investors have recently made changes to their positions in PMT. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth $29,000. National Bank of Canada FI lifted its stake in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,603 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust's stock worth $97,000 after buying an additional 1,115 shares during the period. EntryPoint Capital LLC increased its position in shares of PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 5,015 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at approximately $149,000. Institutional investors own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Company Profile
(Get Free Report)
PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.
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