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

PennyMac Mortgage Investment Trust (NYSE:PMT) saw strong trading volume on Tuesday . 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.

Analyst Ratings Changes

A number of research analysts have issued reports on PMT shares. Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. JMP Securities restated 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. Piper Sandler reiterated a “neutral” rating and set a $15.00 target price (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Finally, B. Riley raised their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.92.

PennyMac Mortgage Investment Trust Stock Up 0.5 %

The firm has a market capitalization of $1.20 billion, a P/E ratio of 9.20 and a beta of 1.47. The company has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $14.32. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.59%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares in the company, valued at approximately $764,479.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Roble Belko & Company Inc bought a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $29,000. National Bank of Canada FI lifted its holdings in PennyMac Mortgage Investment Trust by 94.9% in 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 acquiring an additional 1,603 shares during the period. Allspring Global Investments Holdings LLC boosted its position in 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 purchasing an additional 1,115 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 5,015 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at about $149,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, 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.