PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) announced a quarterly dividend on Wednesday, September 21st, Zacks reports. Shareholders of record on Friday, October 14th will be paid a dividend of 0.47 per share by the real estate investment trust on Friday, October 28th. This represents a $1.88 annualized dividend and a yield of 12.79%. The ex-dividend date is Thursday, October 13th.

PennyMac Mortgage Investment Trust has a payout ratio of 108.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennyMac Mortgage Investment Trust to earn $1.90 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 98.9%.

PennyMac Mortgage Investment Trust Stock Down 0.3 %

Shares of NYSE:PMT opened at $14.70 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.42. PennyMac Mortgage Investment Trust has a 52-week low of $11.64 and a 52-week high of $20.72. The company has a 50 day moving average of $14.84 and a two-hundred day moving average of $15.23. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -7.62 and a beta of 1.16.

Analyst Upgrades and Downgrades

Insider Activity

In other PennyMac Mortgage Investment Trust news, CEO David Spector purchased 20,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were bought at an average cost of $13.71 per share, with a total value of $274,200.00. Following the completion of the acquisition, the chief executive officer now owns 232,574 shares of the company's stock, valued at $3,188,589.54. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.78% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PMT. Vanguard Group Inc. grew its holdings in PennyMac Mortgage Investment Trust by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,801,513 shares of the real estate investment trust's stock worth $182,438,000 after acquiring an additional 85,349 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in PennyMac Mortgage Investment Trust by 11.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust's stock worth $63,746,000 after acquiring an additional 460,177 shares during the period. State Street Corp grew its holdings in PennyMac Mortgage Investment Trust by 3.5% during the first quarter. State Street Corp now owns 3,544,419 shares of the real estate investment trust's stock worth $59,865,000 after acquiring an additional 121,072 shares during the period. Invesco Ltd. grew its holdings in PennyMac Mortgage Investment Trust by 8.0% during the first quarter. Invesco Ltd. now owns 2,409,271 shares of the real estate investment trust's stock worth $40,693,000 after acquiring an additional 178,783 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in PennyMac Mortgage Investment Trust by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust's stock worth $18,800,000 after acquiring an additional 30,302 shares during the period. 69.07% of the stock is owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. 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.

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