QRG Capital Management Inc. Boosts Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

QRG Capital Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,036 shares of the real estate investment trust’s stock after buying an additional 1,093 shares during the period. QRG Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in PennyMac Mortgage Investment Trust by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock valued at $10,895,000 after buying an additional 9,506 shares during the period. Van ECK Associates Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 34.4% during the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after acquiring an additional 159,131 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in PennyMac Mortgage Investment Trust by 40.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock worth $5,884,000 after purchasing an additional 123,890 shares during the period. International Assets Investment Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 1,607.2% in the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after purchasing an additional 346,358 shares in the last quarter. Finally, Jane Street Group LLC raised its position in PennyMac Mortgage Investment Trust by 124.7% in the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after purchasing an additional 161,723 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Up 0.3 %

PMT stock opened at $13.49 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. The firm has a 50 day simple moving average of $13.95 and a 200-day simple moving average of $13.96. The company has a market capitalization of $1.17 billion, a P/E ratio of 9.90 and a beta of 1.51. PennyMac Mortgage Investment Trust has a twelve month low of $12.81 and a twelve month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period in the previous year, the firm posted $0.51 EPS. On average, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.87%. The ex-dividend date was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Insiders Place Their Bets

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. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PMT has been the subject of several analyst reports. Keefe, Bruyette & Woods decreased their target price 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. Piper Sandler lowered their price objective on shares of 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. Wedbush reissued a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Finally, JMP Securities boosted their price objective on shares of 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. 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, PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and an average target price 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.