Inspire Investing LLC Buys 3,160 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Inspire Investing LLC increased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,724 shares of the real estate investment trust’s stock after acquiring an additional 3,160 shares during the quarter. Inspire Investing LLC’s holdings in PennyMac Mortgage Investment Trust were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in shares of PennyMac Mortgage Investment Trust by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 800 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in PennyMac Mortgage Investment Trust by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after acquiring an additional 1,179 shares in the last quarter. ProShare Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock valued at $257,000 after acquiring an additional 1,207 shares during the period. Cetera Investment Advisers increased its holdings in shares of PennyMac Mortgage Investment Trust by 2.2% in the second quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock worth $992,000 after acquiring an additional 1,553 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of PennyMac Mortgage Investment Trust by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 43,720 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 1,827 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.2 %

Shares of NYSE:PMT opened at $14.06 on Friday. The company’s 50-day moving average price is $14.02 and its two-hundred day moving average price is $13.99. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $1.22 billion, a PE ratio of 9.31 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period last year, the company posted $0.16 earnings per share. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.38%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 105.96%.

Analyst Ratings Changes

PMT has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. B. Riley restated a “buy” rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities increased their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler dropped their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus price target of $14.93.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares in the company, valued at $688,087.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders bought 2,879 shares of company stock valued at $39,028. 0.89% of the stock is owned by corporate insiders.

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.