Commonwealth Equity Services LLC Purchases 4,288 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Commonwealth Equity Services LLC lifted its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 30.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,154 shares of the real estate investment trust’s stock after buying an additional 4,288 shares during the period. Commonwealth Equity Services LLC’s holdings in PennyMac Mortgage Investment Trust were worth $357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $365,000. Concorde Asset Management LLC lifted its position in PennyMac Mortgage Investment Trust by 229.4% during the third quarter. Concorde Asset Management LLC now owns 65,464 shares of the real estate investment trust’s stock valued at $1,289,000 after purchasing an additional 45,589 shares during the period. Louisiana State Employees Retirement System lifted its position in PennyMac Mortgage Investment Trust by 6.8% during the third quarter. Louisiana State Employees Retirement System now owns 47,200 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 3,000 shares during the period. State of Alaska Department of Revenue lifted its position in PennyMac Mortgage Investment Trust by 5.3% during the third quarter. State of Alaska Department of Revenue now owns 71,395 shares of the real estate investment trust’s stock valued at $1,405,000 after purchasing an additional 3,620 shares during the period. Finally, IFP Advisors Inc lifted its position in PennyMac Mortgage Investment Trust by 1,662.6% during the third quarter. IFP Advisors Inc now owns 2,027 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,912 shares during the period. Hedge funds and other institutional investors own 70.82% of the company’s stock.

PMT has been the subject of a number of research reports. JMP Securities upped their target price on shares of PennyMac Mortgage Investment Trust from $20.50 to $22.00 and gave the company a “market outperform” rating in a report on Monday, October 18th. BTIG Research raised shares of PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $18.50 target price for the company in a report on Friday, January 7th. Barclays reduced their target price on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a report on Monday, January 10th. Jonestrading started coverage on shares of PennyMac Mortgage Investment Trust in a report on Friday, January 7th. They set a “buy” rating and a $20.50 target price for the company. Finally, B. Riley reduced their price objective on shares of PennyMac Mortgage Investment Trust from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.09.

Shares of NYSE:PMT opened at $18.31 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a fifty day moving average price of $18.10 and a 200 day moving average price of $19.22. PennyMac Mortgage Investment Trust has a fifty-two week low of $16.76 and a fifty-two week high of $21.53. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 13.68 and a beta of 1.13.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.98). PennyMac Mortgage Investment Trust had a net margin of 26.51% and a return on equity of 7.49%. During the same quarter in the prior year, the business posted $0.94 EPS. As a group, research analysts predict that PennyMac Mortgage Investment Trust will post 2.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, December 31st will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, December 30th. This represents a $1.88 annualized dividend and a yield of 10.27%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 142.43%.

In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 4,796 shares of the stock in a transaction on Monday, October 25th. The shares were sold at an average price of $20.33, for a total transaction of $97,502.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by company insiders.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production segment deals with purchasing, pooling, and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities in capital markets.

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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