Goldman Sachs Group Inc. Sells 204,775 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Goldman Sachs Group Inc. reduced its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,789,659 shares of the real estate investment trust’s stock after selling 204,775 shares during the period. Goldman Sachs Group Inc. owned approximately 2.07% of PennyMac Mortgage Investment Trust worth $26,755,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock worth $23,501,000 after acquiring an additional 64,055 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PennyMac Mortgage Investment Trust by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,869 shares of the real estate investment trust’s stock valued at $20,345,000 after buying an additional 61,287 shares during the period. Invesco Ltd. boosted its stake in PennyMac Mortgage Investment Trust by 2.8% during the third quarter. Invesco Ltd. now owns 1,213,989 shares of the real estate investment trust’s stock valued at $15,053,000 after buying an additional 32,803 shares during the period. Norges Bank bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at $9,781,000. Finally, Van ECK Associates Corp boosted its stake in PennyMac Mortgage Investment Trust by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 459,810 shares of the real estate investment trust’s stock valued at $6,874,000 after buying an additional 5,963 shares during the period. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

PennyMac Mortgage Investment Trust Stock Down 0.7 %

PMT opened at $13.68 on Monday. The company has a market cap of $1.19 billion, a P/E ratio of 9.12 and a beta of 1.50. The business’s 50-day moving average price is $13.99 and its 200-day moving average price is $14.30. 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 12 month low of $10.52 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.70%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

PennyMac Mortgage Investment Trust Company 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.