PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) CAO Gregory Hendry sold 2,444 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $9.37, for a total transaction of $22,900.28. Following the completion of the sale, the chief accounting officer owned 9,774 shares in the company, valued at $91,582.38. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PennyMac Mortgage Investment Trust Trading Up 1.0%
Shares of PMT stock opened at $9.53 on Wednesday. The company has a market capitalization of $831.36 million, a PE ratio of 6.71, a price-to-earnings-growth ratio of 0.63 and a beta of 1.14. PennyMac Mortgage Investment Trust has a 52-week low of $9.05 and a 52-week high of $13.81. The business’s fifty day moving average is $10.17 and its 200 day moving average is $11.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.39 and a current ratio of 0.72.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) last posted 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 business had revenue of ($46.00) million for the quarter, compared to analysts’ expectations of $93.93 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.12 EPS for the current fiscal year.
PennyMac Mortgage Investment Trust Dividend Announcement
Institutional Investors Weigh In On PennyMac Mortgage Investment Trust
Several institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. increased 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 worth $25,000 after purchasing an additional 1,285 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $26,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $33,000. Clearstead Advisors LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,815 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 200.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 2,000 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PMT has been the subject of several research analyst reports. Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company dropped their target price on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Weiss Ratings cut shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.10.
View Our Latest Stock Report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.
Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.
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