PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 126.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,944 shares of the real estate investment trust’s stock after acquiring an additional 21,777 shares during the period. Intech Investment Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 124.7% in the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after acquiring an additional 161,723 shares during the last quarter. QRG Capital Management Inc. acquired a new position in PennyMac Mortgage Investment Trust in the second quarter worth $302,000. Louisiana State Employees Retirement System increased its stake in 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 valued at $601,000 after purchasing an additional 800 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PennyMac Mortgage Investment Trust by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock worth $10,895,000 after purchasing an additional 9,506 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter worth $177,000. 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 dated Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $13.59 on Monday. PennyMac Mortgage Investment Trust has a 1 year low of $12.81 and a 1 year high of $15.89. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.99 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock’s fifty day moving average is $13.74 and its two-hundred day moving average is $13.83.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data 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). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

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.