PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Gap Down to $14.62

PennyMac Mortgage Investment Trust (NYSE:PMT) gapped down before the market opened on Friday . The stock had previously closed at $14.62, but opened at $14.31. PennyMac Mortgage Investment Trust shares last traded at $14.35, with a volume of 36,893 shares.

Wall Street Analysts Forecast Growth

PMT has been the subject of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $15.00 to $15.50 in a research note on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

PennyMac Mortgage Investment Trust Stock Up 0.8 %

The business’s 50 day simple moving average is $14.00 and its 200-day simple moving average is $14.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 9.56 and a beta of 1.51.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 11.16%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its position in PennyMac Mortgage Investment Trust by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock worth $23,501,000 after buying an additional 64,055 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,869 shares of the real estate investment trust’s stock worth $20,345,000 after acquiring an additional 61,287 shares in the last quarter. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $9,781,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of PennyMac Mortgage Investment Trust by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,252 shares of the real estate investment trust’s stock valued at $9,443,000 after acquiring an additional 28,121 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in PennyMac Mortgage Investment Trust by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock worth $6,797,000 after purchasing an additional 3,192 shares during the last quarter. 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.