PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch Purchases 715 Shares

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch purchased 715 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average price of $14.19 per share, for a total transaction of $10,145.85. Following the completion of the transaction, the director now owns 33,915 shares in the company, valued at $481,253.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Mortgage Investment Trust Stock Down 1.1 %

Shares of NYSE PMT traded down $0.15 during mid-day trading on Tuesday, hitting $13.86. 607,750 shares of the stock traded hands, compared to its average volume of 623,816. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.34. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 9.24 and a beta of 1.48. The stock has a fifty day moving average price of $14.10 and a 200-day moving average price of $14.02.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.55%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in PennyMac Mortgage Investment Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock valued at $6,797,000 after buying an additional 3,192 shares during the last quarter. New York State Teachers Retirement System raised its stake in PennyMac Mortgage Investment Trust by 12.4% during the first quarter. New York State Teachers Retirement System now owns 142,899 shares of the real estate investment trust’s stock valued at $2,098,000 after buying an additional 15,753 shares during the last quarter. Roble Belko & Company Inc purchased a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $29,000. Quadrature Capital Ltd purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $234,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in PennyMac Mortgage Investment Trust by 10.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 199,073 shares of the real estate investment trust’s stock valued at $3,056,000 after buying an additional 18,695 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday. B. Riley lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.75.

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.