B. Riley Wealth Advisors Inc. Increases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

B. Riley Wealth Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,073 shares of the real estate investment trust’s stock after purchasing an additional 18,695 shares during the quarter. B. Riley Wealth Advisors Inc. owned about 0.23% of PennyMac Mortgage Investment Trust worth $3,056,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI raised its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,603 shares during the period. Victory Capital Management Inc. grew its stake in PennyMac Mortgage Investment Trust by 16.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 2,439 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PennyMac Mortgage Investment Trust by 22.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,788 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 3,929 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 10.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 43,519 shares of the real estate investment trust’s stock valued at $651,000 after acquiring an additional 4,239 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of PennyMac Mortgage Investment Trust by 12.4% during the 3rd quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 4,878 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $13.87 on Tuesday. The firm has a market cap of $1.20 billion, a P/E ratio of 9.24 and a beta of 1.50. The firm has a fifty day moving average of $14.01 and a two-hundred day moving average of $14.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.54%. The ex-dividend date of this dividend is Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Analyst Ratings Changes

Several research firms have commented on PMT. Wedbush reissued a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $14.92.

PennyMac Mortgage Investment Trust Profile

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.