O Shaughnessy Asset Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 173.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,309 shares of the real estate investment trust's stock after purchasing an additional 98,500 shares during the period. O Shaughnessy Asset Management LLC owned about 0.18% of PennyMac Mortgage Investment Trust worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Roble Belko & Company Inc bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $29,000. National Bank of Canada FI increased its position in PennyMac Mortgage Investment Trust by 94.9% during the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,603 shares during the period. Entropy Technologies LP bought a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $149,000. Essex Financial Services Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $150,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in PennyMac Mortgage Investment Trust during the first quarter worth $157,000. 67.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on PMT. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating on the stock in a research note on Wednesday. JMP Securities lifted their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an "outperform" rating for the company in a research note on Thursday. Wedbush reiterated a "neutral" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Finally, B. Riley reaffirmed a "buy" rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of "Hold" and an average price target of $14.93.
View Our Latest Report on PMT
PennyMac Mortgage Investment Trust Stock Up 1.8 %
Shares of PMT traded up $0.24 on Thursday, reaching $13.56. The company's stock had a trading volume of 1,069,964 shares, compared to its average volume of 744,645. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.04 and a beta of 1.51. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The firm has a fifty day moving average of $13.92 and a 200-day moving average of $14.13.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.26%. The company had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. During the same quarter in the prior year, the business earned $0.16 EPS. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.43 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, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.80%. PennyMac Mortgage Investment Trust's payout ratio is presently 106.67%.
About PennyMac Mortgage Investment Trust
(Free Report)
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.
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