PennyMac Mortgage Investment Trust (NYSE:PMT) Director Scott W. Carnahan Sells 35,000 Shares
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) Director Scott W. Carnahan sold 35,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the director now directly owns 18,055 shares in the company, valued at $278,047. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
PennyMac Mortgage Investment Trust Stock Performance
Shares of PMT stock traded up $0.03 during trading hours on Monday, reaching $15.20. 564,073 shares of the company traded hands, compared to its average volume of 725,109. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $1.32 billion, a P/E ratio of 13.83 and a beta of 1.46. The firm has a 50-day moving average price of $13.20 and a 200 day moving average price of $13.07.
PennyMac Mortgage Investment Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.53%. PennyMac Mortgage Investment Trust’s payout ratio is currently 145.46%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. UBS Group assumed coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, December 6th. They set a “neutral” rating and a $13.50 price objective on the stock. StockNews.com raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Wedbush raised their target price on PennyMac Mortgage Investment Trust from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.25.
Get Our Latest Analysis on PMT
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PMT. JPMorgan Chase & Co. lifted its position in shares of PennyMac Mortgage Investment Trust by 82.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,010,072 shares of the real estate investment trust’s stock valued at $27,096,000 after buying an additional 906,150 shares in the last quarter. Norges Bank purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $10,708,000. K2 Principal Fund L.P. bought a new stake in PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $10,351,000. Price T Rowe Associates Inc. MD raised its stake in PennyMac Mortgage Investment Trust by 11.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock valued at $63,746,000 after purchasing an additional 460,177 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in PennyMac Mortgage Investment Trust by 40.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,223,711 shares of the real estate investment trust’s stock valued at $16,496,000 after purchasing an additional 353,306 shares during the period. 66.89% of the stock is owned by hedge funds and other institutional investors.
PennyMac Mortgage Investment Trust Company Profile (Get Free Report)
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. The company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.
Further Reading
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