PennyMac Mortgage Investment Trust (PMT) Scheduled to Post Quarterly Earnings on Wednesday

PennyMac Mortgage Investment Trust (NYSE:PMT) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

PennyMac Mortgage Investment Trust Trading Up 2.2 %

NYSE PMT opened at $13.56 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 8.42 and a beta of 1.48. The business’s fifty day moving average is $14.05 and its 200 day moving average is $13.93.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.80%. The ex-dividend date of this dividend is Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 99.38%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock. Finally, B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.58.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PMT. Envestnet Asset Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $213,000. MAS Advisors LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 158.9% in the 1st quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock valued at $895,000 after purchasing an additional 32,549 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 94.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 shares of the real estate investment trust’s stock valued at $501,000 after purchasing an additional 14,379 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of PennyMac Mortgage Investment Trust by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock valued at $18,800,000 after purchasing an additional 30,302 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 1,137 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

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.