PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 93.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,772 shares of the real estate investment trust’s stock after purchasing an additional 31,253 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $924,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PMT. International Assets Investment Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 1,607.2% during the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after purchasing an additional 346,358 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 781.5% during the second quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 198,688 shares during the period. Jane Street Group LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 124.7% during the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock worth $4,277,000 after purchasing an additional 161,723 shares during the period. Millennium Management LLC raised its position in PennyMac Mortgage Investment Trust by 223.1% in the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after acquiring an additional 160,595 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after acquiring an additional 159,131 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 49,114 shares in the company, valued at approximately $688,087.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $13.42 on Tuesday. The company has a market cap of $1.17 billion, a P/E ratio of 9.87 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.33 and a current ratio of 0.85. PennyMac Mortgage Investment Trust has a one year low of $12.81 and a one year high of $15.89. The business’s 50-day simple moving average is $14.01 and its 200 day simple moving average is $13.97.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The business had revenue of $80.86 million for the quarter, compared to analysts’ expectations of $93.75 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.92%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 117.65%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PMT shares. JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Keefe, Bruyette & Woods dropped their price target 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. Finally, Piper Sandler dropped their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.93.

About PennyMac Mortgage Investment Trust

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.