Insider Selling: PennyMac Mortgage Investment Trust (NYSE:PMT) Director Sells 14,530 Shares of Stock

PennyMac Mortgage Investment Trust (NYSE:PMT) Director Doug Jones sold 14,530 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the transaction, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT traded up $0.43 during trading on Friday, reaching $14.76. The company’s stock had a trading volume of 693,149 shares, compared to its average volume of 735,412. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $15.22. The firm has a 50 day moving average price of $13.25 and a 200 day moving average price of $13.56. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.09 and a beta of 1.51. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 10.84%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of PMT. Rialto Wealth Management LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 822 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in PennyMac Mortgage Investment Trust in the third quarter valued at about $28,000. Principal Securities Inc. increased its position in PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,288 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $36,000. Institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two 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.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.