PennyMac Mortgage Investment Trust (NYSE:PMT) Sees Strong Trading Volume

Shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) saw unusually-high trading volume on Friday . Approximately 39,879 shares traded hands during trading, a decline of 96% from the previous session’s volume of 1,101,327 shares.The stock last traded at $12.16 and had previously closed at $11.93.

PMT has been the topic of several research analyst reports. StockNews.com raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Jonestrading lowered their price target on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a report on Friday, May 6th. Credit Suisse Group lowered their price target on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. TheStreet cut PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a report on Friday, May 6th. Finally, JMP Securities decreased their target price on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.72.

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s fifty day simple moving average is $15.48 and its 200 day simple moving average is $16.48.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, July 14th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $1.88 annualized dividend and a dividend yield of 15.95%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently -257.53%.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in shares of PennyMac Mortgage Investment Trust by 6.6% in the 2nd quarter. Morgan Stanley now owns 845,207 shares of the real estate investment trust’s stock valued at $17,800,000 after buying an additional 51,965 shares during the period. Voya Investment Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 1.8% during the 3rd quarter. Voya Investment Management LLC now owns 41,479 shares of the real estate investment trust’s stock worth $817,000 after purchasing an additional 743 shares during the period. Penserra Capital Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $84,000. Invesco Ltd. boosted its position in shares of PennyMac Mortgage Investment Trust by 78.6% during the 3rd quarter. Invesco Ltd. now owns 1,122,705 shares of the real estate investment trust’s stock worth $22,106,000 after purchasing an additional 494,060 shares during the period. Finally, Millennium Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 38.3% during the 3rd quarter. Millennium Management LLC now owns 67,954 shares of the real estate investment trust’s stock worth $1,338,000 after purchasing an additional 18,829 shares during the period. Institutional investors own 70.77% of the company’s stock.

About PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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