Pennymac chief accounting officer Gregory Hendry sells $18,884 in stock

PennyMac Mortgage Investment Trust's Chief Accounting Officer, Gregory Hendry, sold 2,443 shares of the company's common stock on November 2, 2026. The transaction, facilitated by a pre-approved trading plan, saw the shares exchanged at a price of $7.73 each, resulting in a total sale amount of $18,884. The reduction in share value comes after a 25% decline over the past six months, although a rebound of nearly 14% was observed within the past week, pushing the stock price to $8.28.

Despite this recent volatility, PMT currently boasts an appealing 20% dividend yield and a P/E ratio of 16.94. For those interested in a deeper analysis, InvestingPro offers comprehensive research reports on PMT and 1,400+ other US equities. PennyMac Mortgage Investment Trust also revealed its third-quarter 2026 earnings, with an adjusted profit of $0.35 per share, exceeding the expected $0.30 per share.

However, the company reported a GAAP earnings loss of $0.41 per share, attributed to market-driven value declines. The company's book value per share dropped by 5% to $14.03. In response to the market conditions, PennyMac Mortgage announced a reduction in its quarterly dividend to approximately $0.30 from $0.40, driven by stronger run-rate earnings and improved investment returns.

Wells Fargo adjusted its price target for PennyMac Mortgage Investment Trust from $10.00 to $9.00 while maintaining an Equal Weight rating, based on an estimated core earnings per share of $0.35. These updates unfold against a backdrop of a challenging interest-rate environment, characterized by rising Treasury yields and widening mortgage spreads, which have impacted valuations.