Aigen Investment Management LP Purchases Shares of 10,650 PennyMac Mortgage Investment Trust (NYSE:PMT)

Aigen Investment Management LP purchased a new stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,650 shares of the real estate investment trust’s stock, valued at approximately $152,000.

Several other large investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its stake in PennyMac Mortgage Investment Trust by 105.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock valued at $6,578,000 after purchasing an additional 237,210 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of PennyMac Mortgage Investment Trust by 3.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 141,280 shares of the real estate investment trust’s stock worth $2,015,000 after buying an additional 4,753 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 18.2% in the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after buying an additional 77,955 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 5.0% in the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 1,093 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 4.4% in the third quarter. Janney Montgomery Scott LLC now owns 56,794 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 2,387 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now owns 49,114 shares in the company, valued at approximately $688,087.14. This trade represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wedbush reissued a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT opened at $13.06 on Monday. The company has a market cap of $1.13 billion, a PE ratio of 9.60 and a beta of 1.51. The stock’s 50 day simple moving average is $13.88 and its 200-day simple moving average is $13.93. PennyMac Mortgage Investment Trust has a 1-year low of $12.81 and a 1-year high of $15.89. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.85.

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 firm had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter last year, the business earned $0.51 EPS. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 12.25%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

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.