RDA Financial Network Sells 1,000 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

RDA Financial Network trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% during the first quarter, HoldingsChannel.com reports. The firm owned 21,857 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. RDA Financial Network’s holdings in PennyMac Mortgage Investment Trust were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. National Bank of Canada FI lifted its holdings in shares of PennyMac Mortgage Investment Trust by 94.9% in the fourth 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 in the last quarter. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at about $29,000. Victory Capital Management Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 16.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock valued at $265,000 after acquiring an additional 2,439 shares during the last quarter. 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 valued at $326,000 after acquiring an additional 3,929 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 2.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock valued at $2,237,000 after acquiring an additional 4,041 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $13.70 on Monday. The business’s 50 day moving average price is $13.99 and its two-hundred day moving average price is $14.30. The company has a market cap of $1.19 billion, a PE ratio of 9.12 and a beta of 1.50. The company has a quick ratio of 0.34, a current 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.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.68%. The ex-dividend date is Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PMT shares. Wedbush reaffirmed a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 target price (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $14.92.

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.