PennyMac Mortgage Investment Trust (NYSE:PMT) Sets New 52-Week Low – Here’s What Happened

PennyMac Mortgage Investment Trust (NYSE:PMT)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $12.60 and last traded at $12.60, with a volume of 7407 shares. The stock had previously closed at $13.00.

Wall Street Analyst Weigh In

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

PennyMac Mortgage Investment Trust Trading Down 3.5 %

The stock has a market capitalization of $1.09 billion, a PE ratio of 9.23 and a beta of 1.50. The company’s 50 day moving average price is $13.38 and its two-hundred day moving average price is $13.75. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results 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 business had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period last year, the business earned $0.51 earnings per share. As a group, analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.75%. The ex-dividend date of this dividend is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 117.65%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of hedge funds have recently modified their holdings of PMT. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust during the third quarter worth about $28,000. Simplify Asset Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $143,000. Aigen Investment Management LP purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at approximately $152,000. Allspring Global Investments Holdings LLC acquired a new position in PennyMac Mortgage Investment Trust in the second quarter valued at approximately $177,000. Finally, Caprock Group LLC lifted its holdings in PennyMac Mortgage Investment Trust by 9.3% in the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 1,156 shares during the last quarter. 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.