Catherine A. Lynch Acquires 949 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Catherine A. Lynch acquired 949 shares of the company’s stock in a transaction on Friday, January 24th. The stock was acquired at an average price of $12.54 per share, for a total transaction of $11,900.46. Following the completion of the purchase, the director now owns 38,581 shares of the company’s stock, valued at $483,805.74. This trade represents a 2.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $12.71 on Thursday. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22. The company has a 50-day moving average price of $12.98 and a 200 day moving average price of $13.55. The company has a market cap of $1.10 billion, a P/E ratio of 9.34 and a beta of 1.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were issued a $0.40 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 12.59%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Simplify Asset Management Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $143,000. Aigen Investment Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at about $152,000. Finally, Longboard Asset Management LP purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth about $160,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PMT. JMP Securities restated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Wedbush reissued a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.20.

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.