Vanguard Group Inc. lowered its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 1.6% in the fourth quarter, Holdings Channel reports. The firm owned 9,274,157 shares of the real estate investment trust’s stock after selling 152,886 shares during the period. Vanguard Group Inc. owned approximately 0.11% of PennyMac Mortgage Investment Trust worth $116,391,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PMT. Flagship Harbor Advisors LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $26,000. GAMMA Investing LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 102.8% during the 4th quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,395 shares during the period. CWM LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 57.7% during the 3rd quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,077 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 200.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 2,000 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.
PennyMac Mortgage Investment Trust Trading Down 2.7%
Shares of PMT stock opened at $10.49 on Wednesday. The stock has a 50-day simple moving average of $11.73 and a 200 day simple moving average of $12.33. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.46 and a fifty-two week high of $13.81. The stock has a market capitalization of $914.82 million, a P/E ratio of 9.12, a P/E/G ratio of 0.52 and a beta of 1.19. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99.
PennyMac Mortgage Investment Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 15.3%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 139.13%.
Analyst Ratings Changes
A number of analysts have recently issued reports on PMT shares. Citizens Jmp decreased their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, March 27th. Citigroup restated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.10.
Get Our Latest Analysis on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Profile
PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.
Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.
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