PennyMac Mortgage Investment Trust (NYSE:PMT) Reaches New 12-Month Low – Time to Sell?

PennyMac Mortgage Investment Trust (NYSE:PMT) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $12.28 and last traded at $12.37, with a volume of 72007 shares traded. The stock had previously closed at $12.48.

Analysts Set New Price Targets

Separately, 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.17.

PennyMac Mortgage Investment Trust Stock Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market capitalization of $1.06 billion, a PE ratio of 8.94 and a beta of 1.50. The business’s fifty day simple moving average is $13.18 and its 200-day simple moving average is $13.67.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period last year, the business posted $0.51 earnings per share. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.16%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in PennyMac Mortgage Investment Trust by 58.0% during 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust during the third quarter valued at approximately $28,000. Simplify Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $143,000. Aigen Investment Management LP purchased a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $152,000. Finally, Caprock Group LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 1,156 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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.