PennyMac Mortgage Investment Trust (NYSE:PMT) Hits New 52-Week Low – Time to Sell?

PennyMac Mortgage Investment Trust (NYSE:PMT)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $12.80 and last traded at $13.08, with a volume of 149522 shares trading hands. The stock had previously closed at $12.95.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average target price of $15.17.

PennyMac Mortgage Investment Trust Price Performance

The stock has a 50 day moving average of $13.50 and a 200-day moving average of $13.78. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $1.13 billion, a PE ratio of 9.54 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period in the prior year, the company posted $0.51 earnings per share. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 12.33%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PennyMac Mortgage Investment Trust by 90.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Citigroup Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 43.2% during the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after acquiring an additional 123,079 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of PennyMac Mortgage Investment Trust by 105.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock valued at $6,578,000 after acquiring an additional 237,210 shares during the period. Finally, K2 Principal Fund L.P. purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $5,841,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

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.